Microvast Power System is a vertically integrated developer and manufacturer of advanced electric vehicle power system solutions built on Microvast’s fast-charging, long-life, non-flammable Li-ion battery systems. The company reports its battery systems are operating in more than 15,000 electric and hybrid-electric vehicles across over 140 cities and has demonstrated high standards in public transport in major cities. MPS plans to launch products with higher energy density this year. In March it began construction on a Phase III production facility in Huzhou, Zhejiang, China, targeting 11 GWh of capacity in Phase III and 15 GWh total. The plant is expected to be in operation by 2019. The company recently received $400M in funding led by CITIC Securities.

Total raised

$400M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2017