Microvast
- 🦄Became a unicorn2021
- 📈Peak valuation$3 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$600M
How it happened
Microvast makes fast-charging lithium-ion cells and packs for commercial electric vehicles — buses, trucks and specialty vehicles — and energy-storage systems, with roots in China and headquarters in Texas. Backed by private investors including CDH, it went public on the Nasdaq in July 2021 via a SPAC merger with Tuscan Holdings at a roughly $3B valuation. EV-battery competition, heavy losses and the withdrawal of a US Department of Energy grant battered the stock, which fell about 80% to a small-cap worth around $600M. Glassdoor reviews centered on the funding squeeze that followed: several described the company running out of cash before its US plant reached production, with staff laid off as the site stalled.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: stockanalysis / companiesmarketcap / Nasdaq (lithium-ion battery maker for commercial EVs and energy storage, backed by CDH and other private investors; July 2021 SPAC merger with Tuscan Holdings at a ~$3B valuation; lost a US DOE grant and burned cash; market cap ~$0.6B in 2025-26)
