Microvast Holdings, Inc. is a battery technology company headquartered in Stafford, Texas, and publicly traded on the NASDAQ Stock Exchange. It designs, develops and manufactures battery components and systems primarily for electric commercial vehicles and utility-scale energy storage systems (ESS). Microvast has manufacturing facilities in the United States, China, and Germany.
History
Microvast was founded by Yang Wu in 2006[2] in Houston, Texas, along with its Chinese subsidiary, Microvast Power Systems in Huzhou, China.[3] 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.[4]
In 2019, the company, in a joint work with researchers from Argonne National Laboratory