Microvast

Microvast, founded in 2006 by Yang Wu, has raised $430M in funding, including a $400M Series D in Apr 2017 and a $200M DOE grant/prize in Oct 2022. The Stafford–based company develops lithium-ion cells, modules, and battery systems for buses, commercial vehicles, and passenger EVs. Funding supported manufacturing scale-up, advanced cell chemistry R&D, supply-chain localization, and pilot fleet deployments globally, improving energy density, cycle life, and fast-charging capabilities. Key investors include IFC, CITIC Securities, CDH Investments, Ashmore, and 345 Partners.