Except they didn’t. I’m still surprised they are able to make this claim unchecked. Back then, it was clear the $200m figure was in reference to the whole operation, including the equipment, the building, staff, operating costs etc. The initial press releases (outside of MNS) stated that $200m had been invested in the factory. It didn’t say the equipment they bought for $5m had a $200 replacement value.
Ann: US$52M Term Sheet Signed for New York Battery Plant, page-166
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