Microvast wins USD200m grant towards battery separator production
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By Bradley Osborne - 25th November 2022
USA – Microvast Holdings Inc of Stafford, Texas has announced that it has received a USD200m grant from the U.S. Department of Energy to support the production of critical components for electric vehicle battery assembly.
The grant, which Microvast received following a joint application with automotive corporation General Motors Company, was awarded from a USD2.8bn fund which came out of the U.S. government’s Bipartisan Infrastructure Law. Together with a USD300m investment contributed by Microvast and General Motors, the money will go towards the construction of a new manufacturing facility in the USA.
