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
May 23, 2023 7:57 AM EDT
Microvast (NASDAQ: MVST) shares fell 23.6% in pre-open Tuesday after the lithium battery company was told by the U.S. Energy Department that it wont get a $200 million grant, Reuters reports.
Authorities reportedly told Microvast that it failed to receive a grant... More
May 22, 2023 5:42 PM EDT
By Timothy Gardner
WASHINGTON (Reuters) -The U.S. Energy Department told lithium battery company Microvast Holdings it will not award it a $200 million grant, a source familiar with the matter said on Monday, after lawmakers cited concerns over its alleged links to China's government.
The department had been in talks with Microvast over the grant to help build a plant in Tennessee. The grant stemmed from the $1 trillion 2021 bipartisan infrastructure law.
Two Republican lawmakers criticized the decision to grant the funding in a letter last December to Energy Secretary Jennifer Granholm, saying Microvast had ties to the... More
May 22, 2023 5:25 PM EDT
After-Hours Stock Movers:
Microvast Holdings (NASDAQ: MVST) 28% LOWER; U.S. Energy Department Cancels Contract Negotiations On $200 Million Award For - Reuters
Guardant Health, Inc. (Nasdaq: GH) 7% LOWER; announced that it has commenced an underwritten public offering of $250.0 million of its common... More
May 22, 2023 5:19 PM EDT
U.S. Energy Department Cancels Contract Negotiations On $200 Million Award For Microvast Holdings (NASDAQ: MVST) - Reuters
shares of MVST down 28% after-hours on the news....
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