Microvast

Microvast was founded in 2006 in Houston, Texas, along with its Chinese subsidiary, Microvast Power Systems in Huzhou, 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 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 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.On Nov. 1, 2021, Microvast opened a new R&D center in Orlando, Florida.

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, Tennessee in partnership with General Motors. The federal grant generated criticism from U.S. representative Frank Lucas and U.S. senator John Barrasso.