KORE Power Pulls the Plug on $1 Billion Arizona Battery Factory, The ambitious project, which promised thousands of jobs and positioned itself as a key player in the U.S
KORE Power Pulls the Plug on $1 Billion Arizona Battery Factory – What Went Wrong?
by 1oneplus
19 comments
Good god that website is cancer for mobile phones.
This needs to be monitored closely. $850 million dollar loan in your pocket but shutting down the project. IDK about you guys but something smells fishy.
That is not how LPO loans work. You don’t get the money upfront. It’s paid out as milestones are completed. They secured a loan commitment.
Not for sure, however this sounds suspiciously like they could not get permitted. Just a guess, neither did they mention anything about a bond.
This administration and republicans have literally said that they don’t want anything that resembles renewables! So why would businesses want to put up with them and get threatened with DEI when it’s not going this administrations way. They are killing America from the inside oh wait now I see why they got rid of cancer research.
Not privy to any of this but if I had to guess, since the LPO commitment was *conditional*, there was some sort of funding breakdown once Trump made it clear anything not finalized under the Jigar LPO was a target. Specifically, most likely an issue with the factory’s private construction debt that had would probably have had terms around securing LPO funding.
The key question now is whether another non-Chinese OEM can come in and complete the factory, so questions around site suitability for their machines/practices etc are relevant, but also nobody will probably want to make a move until the storm of dumb Trump energy-related EOs eases up and they can take stock of the aftermath.
Man the jobs report for the first quarter is going to be really bad.
“They took our jobs” means something different now. But this time, it’s actually happening.
Conservative are idiots..Green energy jobs are well paying and employs hundred of thousand of american workers directly and indirectly.
Why would you open a factory that does batteries for Green technologies, in a country that has said they’re going to ban green technologies or at least try? That would make no sense
Arizona voted for Trump. This is their reward. Makes me chuckle.
Trump Kills American Jobs, keep a running tally because his lackeys won’t
And the USA falls further behind.
Apparently a lot of people didn’t read the article and just blame trump because they share the same number of brains cells as him.
If electric cars were truly the future, wouldn’t big oil and other corporations be the first to corner the market and continue being a monopoly?
At least Trump gets to own the libs.
This is the Trump effect. Going backwards. So much for those jobs and economic opportunity. Perhaps they’ll put in a coal mine or a prison. Maybe voters will learn that the Republicans are the party of corruption and regression. If on,y those voters were rich.
What a co inky dink when you have the world’s richest man whispering in the ear of the US president, who is an idiot.
Trump. The answer you’re looking for is Trump, his policies have made the market outlook for EVs and thus these batteries unfavorable. And the thousands of jobs in rural Buckeye go with it.
Remember that in 2 and 4 years, Arizona residents.
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