Why Is Microvast Partnering With FPT Industrial?

Microvast Holdings is a Texas-based company whose main business is the development and production of battery components, and accumulators for electric vehicles, trains, etc. In addition to all this, it sells some chemical elements. The price of its stock is deteriorating day by day. MVST has been trading below its original price of $9,76 since September. Moreover, in the last month alone, the worth has plunged 31% to $4.99 as of January 10th. Today’s price is $5.18 with a trading volume of $524,006.

Microvast

Microvast Holdings has announced the exciting news that it’s partnering with Iveco Group’s FPT Industrial to equip the new Crossway Low Entry buses manufactured by IVECO BUS with batteries. The responsibilities of the first included the development of a battery with a capacity of up to 466 kWh, and the second – the creation and certification of it. Its performance can last for 10 years, which is a distinctive feature. Delivery of this vehicle will begin in the second half of next year, and this year it will appear in tenders.