MVST - Microvast buys R&D center in Orlando Florida

Microvast Holdings (NASDAQ:MVST) has expanded its presence in the Orlando area with acquisition of a new research, development and innovation center in Lake Mary, Florida. The location will become Microvast's innovation headquarters and will include a world-class laboratory for battery prototyping. The $11M existing facility is ~75,000 square feet on 8 acres and currently consists of office space and a warehouse. Existing employees in the Orlando area will begin working in the facility immediately. The technology firm also plans to hire an additional 100 industry experts to work in various areas of battery technology research and development over the next five years. Yang Wu, President and Chief Executive Officer, said, "This investment will support our long-term growth objectives by ensuring that our technologies remain on the forefront, pushing the boundaries of non-flammable material technologies, fast charging cells and battery lifetimes for many years to come." Wenjuan Mattis, Chief Technology Officer,

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Microvast buys R&D center in Orlando, Florida