Microvast Holdings (MVST) Responds to DOE Decision to Withdraw Separator Grant

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Go back to Microvast Holdings (MVST) Responds to DOE Decision to Withdraw Separator Grant

Microvast Responds to DOE Decision to Withdraw Separator Grant

May 24, 2023 7:00 AM EDT

STAFFORD, Texas--(BUSINESS WIRE)-- Microvast Holdings, Inc. (NASDAQ: MVST) (Microvast or the Company), a technology innovator that designs, develops, and manufactures lithium-ion battery solutions, responded today to the U.S. Department of Energys (DOEs) recent decision to withdraw its previously announced $200 million separator grant.

Yang Wu, Microvasts founder, chairman, President, and Chief Executive Officer, said the Company is surprised by the DOEs decision to withdraw the grant, which was designed to help build a new facility in Kentucky that would employ hundreds of people. Microvast is based in Texas, its shares... More