The United States Advanced Battery Consortium LLC (USABC) has awarded a $4.5 million contract to Microvast Inc. to lead a program to develop low-cost/fast-charge batteries for electric vehicle applications.
The contract award, which includes a 50 percent cost share, funds a 36-month project that began earlier this year. It will develop a low-cost automotive lithium-ion pouch cell capable of achieving a 15-minute fast charge.
USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR) and a collaboration organization of FCA US LLC, Ford Motor Co. and General Motors. Founded in 1992, USABC’s mission is to develop electrochemical energy storage technologies that support commercialization of hybrid, plug-in hybrid, electric and fuel cell vehicles.
“The technology development contract award with Microvast is part of USABC’s broad battery technology research and development program,” said Steve Zimmer, executive director of USCAR. “Programs like this are critical to advancing the technology needed to meet both near- and long-term goals that will enable broader scale vehicle electrification.”
Founded in 2006, Microvast is a designer, developer and manufacturer of ultra-fast charging, long-life battery power systems for electric vehicles. Its U.S. headquarters is in Stafford, Texas. It also has a manufacturing center in China, as well as its European, Middle East and Africa Division located in Germany.