Posted on 04/21/2023 11:05:18 AM PDT by buckalfa
Michigan lawmakers gave the final approval Thursday, April 20 to award a controversial electric vehicle battery project millions in state funding.
The state gave Gotion Inc. $175 million for a $2.4 billion battery parts plant in Mecosta County. The Senate Appropriations Committee voted 10-9 to transfer grants to the Gotion project.(snip)
Gotion announced plans last year to invest $2.4 billion and create 2,350 jobs at two sprawling battery plants in Mecosta County.
Jerrilynn Strong, chair of the Mecosta County Commission, said during Thursday’s Senate hearing the project is a great opportunity for people across the county. She also expressed disappointment at a “small but vocal group of opponents,” which she called “professional picketers.”
“All of them think that they speak for the county,” she said. “They do not.”
The project was put under a microscope after the Michigan Strategic Fund gave it $715 million in state incentives including a 30-year tax break valued at $540 million and two grants totaling $175 million. Senators gave the grants the green light on Thursday.
In a room packed full of people in opposition of the project, including Michigan GOP Chair Kristina Karamo, many voiced concerns about the company’s ties to China.
“If you choose to give this money to Gotion, you are a traitor to this your republic, you are a traitor to your children,” Karamo said.
Gotion is a U.S. wholly-owned subsidiary of the Chinese company Gotion High Tech. The publicly-held company established its headquarters in the Silicon Valley area in 2014.
Gotion Vice President of North America Operations Chuck Thelen has repeatedly pushed back on rumors that Gotion is associated with the Chinese Community Party.
(Excerpt) Read more at mlive.com ...
This is why it should be a Felony for any Public Employee to use any means or mode of transportation that emits any carbon
Blowing up another Tech Bubble
“Gotion Vice President of North America Operations Chuck Thelen has repeatedly pushed back on rumors that Gotion is associated with the Chinese Community Party.”
ROTFLOL!
ALL chinese corporations are associated with the chinese communist party ... period ... 45 years ago they were all owned and operated by the People’s Republic of China Military ...
I despise Michigan’s current administration.
Ditto.
WJR am today had hosts and callers agreeing that the Non Disclosure Agreement (NDR) signed by Rep. Elissa Slotkin (D) and others is an outrage. Secrets kept away from the people they represent so Chinese will not be upset about something?
This is a potential good wedge for the GOP (wimpy as they are here in Michigan).
Solyndra keeps coming to mind, over and over. This truck EV company, Rivian I believe, is BURNING through hundreds of billions of dollars. Once they fail so badly that people stop propping them up, they will fold just like Solyndra. Without massive subsidies, tax breaks, etc there is no ‘market’ for EVs.
I often point out that when we see an EV, we all ‘helped’ purchase it with tax dollars. Since many EVs are the second or third car someone buys, our tax dollars go to people who have $$$. We cannot afford a second car, let alone an expensive EV. We would never buy one anyway. While we cannot afford a second car, our taxes are taken to help those with more money.
I don’t mind people with more money. No poor person ever offered me a job. I just dislike these EV subsidies.
—”Rivian I believe, is BURNING through hundreds of billions of dollars.”
Not quite that much!
You can become a short seller and make some big bucks if your scenario plays out.
RVIN closed at $12.25 today and came out at $129 Nov 2021.
CALL YOUR BROKER! GOT A HUNCH, BUY A BUNCH!
But this could be a bear trap. With biden and his minions pumping EVs.
There are strategies to play it both ways at the same time.
Ask your broker about a straddle.
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