STAFFORD, TX--(Marketwired - Feb 2, 2017) - Microvast, a global leader in battery storage solutions for mobile and stationary applications, delivered more than 7,500 all-electric and hybrid-electric buses in 2016 for metro transit use worldwide -- a new high for the company. The company also announced plans to expand operations in the U.S., where it expects to put its first e-buses on the road in 2017.
As of the end of 2016, more than 15,000 Microvast battery-powered buses were operating in public transport networks in China, as well as in five countries in Europe. Collectively, Microvast electric buses have traveled over one billion kilometers without failures or safety issues.
Microvast has been a vertically integrated developer and manufacturer of safe, long-life, fast-charging lithium-ion battery systems for more than 10 years. Its electric and hybrid bus business was launched in 2010, mainly focusing on Europe and China. Based on considerable experience with battery systems in those markets, the company is advancing its activities in the U.S. This includes a primary emphasis on the e-bus sector, while also pursuing opportunities in truck electrification, mining processes, grid-scale energy storage, and other markets.
"We're very pleased to report a record number of vehicles delivered in 2016, as well as passing the one billion mark for kilometers traveled by Microvast-powered buses," said Hanko Song, Microvast Vice President of Marketing. "Based on that success, we're moving forward with a major expansion of our U.S. activities, beginning with establishing a manufacturing facility, hiring more staff, and creating partnerships to support that effort."
In the U.S., Microvast sees a significant opportunity to electrify public transport like it has in other countries. To that end, the company established a U.S. headquarters near Houston that will expand to include additional engineering, service and production personnel. Nearby in Sugar Land, Texas, Microvast will open a new battery pack manufacturing facility, which will be in compliance with the FTA's Buy America program.
Microvast currently provides three lines of fast-charging lithium-ion battery solutions, with different chemistries and performance characteristics as required by the diverse markets for high-performance batteries. These characteristics include ultra-fast charge capability -- fully charging in 10-15 minutes; high cycle life -- exceeding 20,000 full-depth charge cycles; thermal performance -- able to operate in a wide range of temperatures; or high energy density. Microvast batteries are also extremely safe, thanks to the company's patented Smart Thermal Liquid (STL) protection system.
Microvast is a fast-growing and profitable market leader in the design, development and manufacturing of safe, ultra-fast charging, long-life lithium-ion battery systems. Established in 2006, Microvast was founded with a vision to address current constraints in electric vehicle development and to redesign power systems to drive mass adoption of electric vehicles. The company has supplied more than 15,000 hybrid and fully electric buses with battery systems, operating in more than 100 cities across six countries with over one billion kilometers traveled. Microvast is headquartered in Zhejiang, China, with offices in the US, UK and Germany. More information is available at www.microvast.com.