NewQ1 2026 Clean Energy Deal Intelligence Report is live
M&AClosedJuly 23, 2021

Microvast — Li-ion battery systems for EVs and energy storage (ultra-fast charging, high cycle life)

Microvast (Houston, TX) completed business combination with Tuscan Holdings Corp. Stockholder vote July 21, 2021; closed July 23, 2021. NASDAQ listing as MVST July 26, 2021. ~$822M cash incl. $282M trust + $540M PIPE. Strategic partner Oshkosh Corp anchored. Pro forma equity $3B. Microvast operates battery cell production capabilities in China and US.

$3.00B

Deal Value

Storage

Technology

TX

Location

MarketsTexasERCOT

Deal Details

Deal Type
SPAC Merger
Seller / Sponsor
Microvast Inc.
Buyer / Financier
Tuscan Holdings Corp.
Deal Value
$3B (pro forma equity)
Stage
Operating
ISO/RTO
ERCOT

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