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Microvast Breaks Internal Record With More Than 7,500 Electric Bus Deliveries In 2016

Global battery storage solution provider for mobile and stationary applications Microvast announced that it delivered more than 7,500 fully electric and electric-hybrid buses in 2016, which is a new record for the company.

Global battery storage solution provider for mobile and stationary applications Microvast announced that it delivered more than 7,500 fully electric and electric-hybrid buses in 2016, which is a new record for the company.

microvast

With more than 15,000 Microvast powered buses operating in public transit networks around the world at the end of last year, this is impressive growth. Looking forward, the company has plans to expand into the US market where the first deliveries are expected to arrive in 2017.

“We’re very pleased to report a record number of vehicles delivered in 2016, as well as passing the one billion mark for kilometers traveled by Microvast-powered buses,” said Hanko Song, Microvast Vice President of Marketing.

“Based on that success, we’re moving forward with a major expansion of our U.S. activities, beginning with establishing a manufacturing facility, hiring more staff, and creating partnerships to support that effort.”

To achieve its aggressive goals for expansion into the US, Microvast has established a US headquarters just outside of Houston, Texas, that will eventually expand to include engineering service and even production teams.

While electric buses have been embraced in China, which is now home to 98% of the world’s operational fully electric buses, western nations have been slow to convert fleets to electric.

While this phenomenon is likely due to the fact that many electric bus companies are Chinese and can be directly funneled to greenfield installations, it’s a bit of a mystery why more western countries haven’t even adopted fully electric buses as part of their 12 year refresh cycle, the standard lifespan for transit buses.

Microvast doubling the cumulative sales from all previous years is a clear indicator that the global market for electrified transit vehicles is heating up. In support of that growth, the company is also looking to expand into other sectors, with its sights set on truck electrification, mining processes, grid scale batteries, and other markets.

 
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I'm a tech geek passionately in search of actionable ways to reduce the negative impact my life has on the planet, save money and reduce stress. Live intentionally, make conscious decisions, love more, act responsibly, play. The more you know, the less you need. As an activist investor, Kyle owns long term holdings in Tesla, Lightning eMotors, Arcimoto, and SolarEdge.

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