Youngkin Wants No Part Of Subsidizing Company Tied To CCP

SMITHFIELD, VIRGINIA - OCTOBER 27:  Virginia Gov. Glenn Youngkin speaks at a campaign rally for Republican U.S. House nominee, state Sen. Jen Kiggans on October 27, 2022 in Smithfield, Virginia. Kiggans and incumbent U.S. Rep. Elaine Luria (D-VA) are polling in a virtual tie for Virginia's 2nd Congressional District ahead of the November 8 general election.  (Photo by Alex Wong/Getty Images)

At a glance

  • Virginia Republican Gov. Glenn Youngkin doesn’t want his state involved in possibly becoming the home to a new battery manufacturing plant that is the result of a partnership between Ford Motor Co. and a Chinese company called Contemporary Amperex Technology Co. Ltd. (CATL).
  • “The governor has directed the Virginia Economic Development Partnership (VEDP) to remove Virginia from consideration for this project and not to submit an incentive package,” the source told the Daily Caller. “Ultimately, Virginia is removing itself from any possibilities of the CATL plant being established due to concerns surrounding the deal.”
  • CATL’s connection to the Chinese government is a “major concern” for Republican Gov. Glenn Youngkin, a source close to the talks told the Daily Caller, adding that Youngkin also has an issue with the terms of the deal that would allow CATL to receive U.S. tax benefits under the new Inflation Reduction Act (IRA).

 

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