Microvast Enters Electrification Joint Development Agreement With Oshkosh Corporation

HOUSTON--(BUSINESS WIRE)--Microvast, Inc., a leading global provider of next-generation battery technologies for commercial and specialty vehicles ("Microvast" or the "Company"), announced today that Oshkosh Corporation (NYSE: OSK) (“Oshkosh”), a leading innovator of mission-critical vehicles and essential equipment, and Microvast have entered into a Joint Development Agreement to facilitate future battery collaboration and innovation. Oshkosh also confirmed that it had agreed to invest $25 million as part of the previously announced $540 million private investment in public equity (“PIPE”) entered into in connection with Microvast’s previously announced pending merger with Tuscan Holdings Corp. (Nasdaq: THCB) (“Tuscan”), a publicly-traded special purpose acquisition company.