But Depew and Maguire are convinced that their company is at a disadvantage because it’s not close to the Big Three. And so it is no longer pursuing the $80 million. “We walked away from it because we didn’t think we could qualify,” Depew said. “Our batteries are not tied to a specific vehicle program, and we’re not trying to build a factory on an existing brownfield development site.” Maguire adds that the program seems to be geared to “helping the Big Three and subsidizing the incumbents—it’s not geared to startups.”
Changes things a bit...