Microvast Holdings, Inc. (NASDAQ:MVST) ("Microvast", the "Company" or "we") and Iveco Group N.V. (MIL: IVG) ("Iveco Group") today reaffirm and expand their long-standing partnership, which has been advancing electric battery solutions across Europe. Since 2017, the collaboration has been delivering on the promise of sustainable transportation. Together, the companies have delivered cutting-edge battery technologies that power sustainable transportation and support the transition toward electrified fleets.

The collaboration began with the IVECO eDaily project, where Microvast supplied battery systems based on VDA modules and 52Ah cells. This platform remains in production today, and it established the foundation for a strong and enduring cooperation.

In 2023, the partnership reached a significant milestone with the introduction of the Microvast MV-I Gen 1 battery pack, assembled at the FPT ePowertrain plant in Turin and integrated into the IVECO BUS vehicle platform.