Pulling funding for political points-scoring would not be a good look... especially if it's both "Green" and "innovative" projects that will be taking the hit. More likely they'll tweak it a bit so they can rebrand/re-spin it and then take the credit, rather than being seen to deliver their predecessors policies.
To paraphrase Churchill, "Democracy is the worst form of government, but it's better than the alternatives".
Whilst PBT getting the $120M would be nice for POS, they are certainly not the only potential offtaker, POS is has a viable project without PBT.
Pure Battery Technology PBT, page-236
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