Microvast Holdings, Inc. is a battery manufacturer founded in 2006 and headquartered in

Stafford Stafford () is a market town and the county town of Staffordshire, in the West Midlands region of England. It lies about north of Wolverhampton, south of Stoke-on-Trent and northwest of Birmingham. The town had a population of 70,145 in ...

Texas Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...

, that makes

lithium-ion batteries A lithium-ion or Li-ion battery is a type of rechargeable battery which uses the reversible reduction of lithium ions to store energy. It is the predominant battery type used in portable consumer electronics and electric vehicles. It also see ...

for

electric vehicle An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes c ...

s and

energy storage system Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an accumulator or battery. Energy comes in ...

s. It operates manufacturing bases in the United States, China, and Germany.

History

Microvast was founded in 2006 in Houston, Texas, along with its Chinese subsidiary, Microvast Power Systems () in

Huzhou Huzhou (, ; Huzhounese: ''ghou² cieu¹'') is a prefecture-level city in northern Zhejiang province (Hangzhou–Jiaxing–Huzhou Plain, China). Lying south of the Lake Tai, it borders Jiaxing to the east, Hangzhou to the south, and the provi ...

, China. It introduced its first generation of batteries in 2009, with manufacturing starting in 2010 in Huzhou factory. By March, 2017, it began construction on its "Phase III" production facility in Huzhou. In 2019, the company, in joint work with researchers from

Argonne National Laboratory Argonne National Laboratory is a science and engineering research national laboratory operated by UChicago Argonne LLC for the United States Department of Energy. The facility is located in Lemont, Illinois, outside of Chicago, and is the lar ...

won a R&D 100 award for a novel "High-energy density and safe battery system". In July 2020, Microvast inaugurated its new Germany factory in Ludwigsfelde, with production planned to start in March 2021. On Feb.10, 2021,

Tennessee Tennessee ( , ), officially the State of Tennessee, is a landlocked state in the Southeastern region of the United States. Tennessee is the 36th-largest by area and the 15th-most populous of the 50 states. It is bordered by Kentucky to ...

officials and Microvast announced that the company will establish a new manufacturing facility in Clarksville to manufacture battery cells, modules and packs, with the production expected to begin in the summer of 2022. On July 26, 2021, the company went public through a merger with a

special-purpose acquisition company A special purpose acquisition company (SPAC; ), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional ...

. On Nov. 1, 2021, Microvast opened a new R&D center in

Orlando Orlando () is a city in the U.S. state of Florida and is the county seat of Orange County. In Central Florida, it is the center of the Orlando metropolitan area, which had a population of 2,509,831, according to U.S. Census Bureau figures r ...

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, a ...

2022 federal grant

On Oct. 19, 2022 the U.S. Department of Energy released ''"Bipartisan Infrastructure Law Battery Materials Processing and Battery Manufacturing & Recycling Funding Opportunity Announcement"'', awarding US$2.8 billion to a number of public and private US companies. The company was awarded US$200 million to support development of Thermally Stable Polyaramid Separator Manufacturing Plant in Clarksville,

in partnership with General Motors. The federal grant generated criticism from U.S. representative

Frank Lucas Frank Lucas (September 9, 1930 – May 30, 2019) was an American drug trafficker who operated in Harlem, New York City, during the late 1960s and early 1970s. He was known for cutting out middlemen in the drug trade and buying heroin directly ...

and U.S. senator

John Barrasso John Anthony Barrasso III ( ; born July 21, 1952) is an American physician and politician serving as the senior United States senator from Wyoming, a seat he has held since 2007. A member of the Republican Party, he served in the Wyoming Stat ...

Customers & Partnerships

Microvast batteries are being used by numerous bus makers, including

IVECO IVECO, an acronym for Industrial Vehicles Corporation, is an Italian multinational transport vehicle manufacturing company. It designs and builds light, medium, and heavy commercial vehicles. The name IVECO first appeared in 1975 after a merger ...

CRRC CRRC Corporation Limited (known as CRRC) is a Chinese state-owned and publicly traded rolling stock manufacturer. It is the world's largest rolling stock manufacturer in terms of revenue, eclipsing its major competitors of Alstom and Siemens. I ...

Foton Foton may refer to: * Foton (satellite), two series of Russian scientific satellite and reentry vehicle programs * Foton Motor, a Chinese commercial vehicle manufacturer based in Beijing * Foton Tornadoes, a women's volleyball team in the Philipp ...

King Long King Long United Automotive Industry Co., Ltd () or commonly known as King Long (, literally, ''Golden Dragon'') is a Chinese bus manufacturer headquartered in Xiamen, Fujian. Founded in December 1988, it is focused mainly on developing, manufac ...

, VDL, Zhongtong Bus, JBM and

Wrightbus Wrightbus is a Northern Ireland based bus manufacturer and a pioneer of the low-floor bus. The company was established in 1946 by Robert Wright and was later run by his son William Wright, until it was acquired in 2019 by British businessman ...

. With buses operating in China, England, Germany, Holland, India, New-Zealand, Russia, South Korea and Sweden. Other commercial vehicles and passenger cars OEM customers include SAIC, PSA Singapore, FPT,

ZF Friedrichshafen ZF Friedrichshafen AG, also known as ZF Group, originally ''Zahnradfabrik Friedrichshafen'', and commonly abbreviated to ZF (ZF = "Zahnradfabrik" = "Cogwheel Factory"), is a German car parts maker headquartered in Friedrichshafen, in the south ...

, Safra,

Cargotec Cargotec Oyj (trading internationally as Cargotec Corporation) is a Finnish company that makes cargo-handling machinery for ships, ports, terminals and local distribution. Cargotec was formed in June 2005 when Kone Corporation Kone Oyj (; o ...

, Gaussin and

Oshkosh Corporation Oshkosh Corporation, formerly Oshkosh Truck, is an American industrial company that designs and builds specialty trucks, military vehicles, truck bodies, airport fire apparatus, and access equipment. The corporation also owns Pierce Manufac ...

References

External links

* {{Finance links , name = Microvast Holdings, Inc. , symbol = MVST , sec_cik = 1760689 , yahoo = MVST , google = MVST , nasdaq = MVST , bloomberg = MVST:US Auto parts suppliers Battery manufacturers Companies listed on the Nasdaq Electronics companies established in 2006 Electric vehicle battery manufacturers

History

2022 federal grant

Customers & Partnerships

See also

References

External links