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Microvast and Evoy Forge Groundbreaking Partnership in Boat Electrification
STAFFORD, Texas--(BUSINESS WIRE)-- Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a technology innovator that designs, develops, and
About this update from Microvast Holdings, Inc.
[{"type":"text","content":" STAFFORD, Texas--(BUSINESS WIRE)--\nMicrovast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a technology innovator that designs, develops, and manufactures lithium-ion battery solutions, is pleased to announce a strategic partnership with Evoy, a Norwegian company specializing in high-output electric motor systems for boats. The collaboration with Evoy is Microvast’s debut in the electric boat segment and marks an expansion of Evoy’s battery options for diverse market applications.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240624910667/en/EVOY® STORM 300+ HP ELECTRIC OUTBOARD SYSTEM (Photo: Business Wire)\nEvoy will be integrating Microvast MV-I high-power battery packs into their leisure boat product line. The MV-I battery pack offers a range of environmental and technical benefits, such as fast responsive torque for quick acceleration. Other key benefits include:\n\n\nEnhanced Safety and Reliability\n\n\nThe self-contained, integrated cooling plate of the MV-I battery pack offers enhanced safety and reliability in boat applications. In addition to quiet, low maintenance operation, Evoy’s integration of MV-I battery packs will help foster a safer environment for natural resources and marine life. Microvast-powered Evoy motors will provide an exhaust and fuel free power solution that reduces noise, air, and water pollution.\n\n\nInnovative Lightweight Design:\n\n\nThe MV-I battery pack combines a lightweight design with innovative lithium-Ion technology, increasing energy density by up to 180 Wh/kg. This groundbreaking design maintains the robustness required for boat applications, supporting Evoy's commitment to high-performance electric boating.\n\n\nLeif A. Stavøstrand, Co-Founder & CEO of Evoy, commented: \"We are pleased to collaborate with Microvast and look forward to testing their batteries both in our lab and onboard electric vessels. This collaboration represents an opportunity to expand our battery selection in our pursuit of the most efficient and reliable electric boating solutions. Microvast's commitment to innovation in battery manufacturing aligns with our mission to redefine the boating experience.\"\n\n\nStefan Herr, Executive Vice President, EMEA, of Microvast, added, \"Microvast is embarking on an exciting journey with Evoy...