Microvast designs, develops, and manufactures lithium-ion battery systems for electric commercial vehicles and energy storage systems (ESS). Founded in 2006 and headquartered in Stafford, Texas, Microvast manufactures primarily at its facility in Huzhou, China, with roughly 3.5 GWh of annual capacity today. The core business is supplying battery packs and modules to commercial vehicle OEMs — buses, heavy-duty trucks, port equipment, and mining vehicles — who integrate Microvast's systems into their products. Microvast does not sell to fleet operators directly. Key selling points include ultra-fast charging (10–30 minutes to 80%), long cycle life, and vertical integration across cathode, anode, electrolyte, and separator materials. Microvast is also vertically integrated enough to sell battery components to third-party manufacturers. The secondary business is containerized ESS, with the ME6 (a 6 MWh LFP-based unit) targeting utilities, commercial operators, and data centers. Sales cycles for ESS run 6–12 months versus 2–4 years for commercial vehicle programs. EMEA is now the largest region at roughly 64% of revenue, driven by European commercial vehicle OEMs, and is growing rapidly as Microvast shifts away from lower-margin Asia-Pacific markets where commodity competition from large Chinese producers is intense. The Americas remain a small share of revenue. Profitability is heavily tied to factory utilization at the Huzhou facility. Microvast is also developing next-generation technologies including all-solid-state batteries and silicon-based anodes, though these remain pre-commercial.