Shares of the Texas-based company rose 6.4% in early trade. Two Republican lawmakers criticized the decision to grant funding in a letter last December to Energy Secretary Jennifer Granholm, saying Microvast had ties to the Chinese Communist Party (CCP) that raised "serious concerns about the department's ability to protect U.S. $1 trillion 2021 bipartisan infrastructure law, was to help Microvast build a plant in Tennessee. "Neither the Chinese government nor the Chinese Communist Party has any ownership in the company, nor do they control or influence company operations in any way," Microvast CEO Yang Wu said in a statement. Energy Department canceled a $200 million grant following lawmakers' concerns over its alleged links to China. May 24 (Reuters) - Microvast Holdings (MVST.O) is considering all its options, the lithium battery maker said on Wednesday, after U.S.
0 Comments
Leave a Reply. |