Best EV Powerplay: $MVST
Everyone knows by now that EVs will be the future of the automotive market due to their environmental friendliness, lower maintenance costs, and gas savings. For example, Wood Mackenzie forecasts that EV sales will increase 8x over the next 2 decades from 5mil vehicles today to close to 40mil by 2040.
One of the main factors that historically restricted the EV revolution was … batteries. Batteries historically have been large, expensive, and dangerous. With 30-40% of the cost of an EV being in batteries, all these hindered the commercial adoption of EVs. For EV adoption to truly take off, better batteries would be needed. That's where Microvast comes in.
Founded in 2006, Microvast was founded to create battery tech that could pave the way for EV adoption globally. Today, it has over 28k battery systems in operation in 19 countries with over 3.8bil miles driven. The company's batteries have been powering electric vehicles around the world for years now, and notably have been powering electric buses in the 2018 PyeongChang Winter Olympics.
Today, the company mainly produces batteries for commercial electric vehicles, including trucks, buses, trains, etc. In the future, the company plans to expand into passenger vehicles, storage solutions, and battery components, expanding its TAM by $45bil.
As you can see, Microvast's batteries far outperform the competition, with 20% higher range, faster charging, longer life span, etc. The solutions have been validated by the commercial success of Microvast as well as by 3rd party testing. For example, the Department of Energy's Argonne laboratory has tested Microvast products and found them to be superior to other Li-ion batteries on the market. The company has over 550 patents filed, covering everything down to the individual cell components, which will help Microvast obtain a long-term competitive advantage.
Unlike competitors who redesign existing batteries to fit them in EVs, Microvast has designed its batteries from the ground up specifically to address the problems facing EV batteries. Every step of the manufacturing process is controlled by Microvast, leading to higher quality and lower-cost products.
After the merger with THCB, Microvast will build a world-class manufacturing facility by 2022 that will allow the company to start filling its massive backlog, generating substantial growth in the process.
Submitted February 02, 2022 at 07:05PM by Warren-Bubble-69
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