On Microvast's investor presentation, they confirmed 9 customer partnerships, and 3 R&D partners. I'm going to discuss a few of them...
On the conference call transcript (6), " Microvast is also in advanced discussions with two other marquee global customers which, if executed, could provide an additional $3 billion in contracted revenue through 2028" I think I figured out who one of them is going to be, but WTF do I know?
Disclosure and disclaimer: not a stonk advisor, do your own DD, I have 8000 warrants and 1000 shares
OSHKOSH CORP ($OSK)
Oshkosh is a specialty vehicle producer. They have billions in contracts with the government, and have 9 brands that they own. These brands include military vehicles, consruction vehicles, garbage trucks, firetrucks, and a few more you can read about at (1).
What makes Oshkosh special as a partner is that they invested $25M in THCB via PIPE and announced a Joint Development Agreement. A JDA is when 2 firms work on project(s) together. I believe that this project is the USPS vehicle, and that is one of the primary purposes of the new facility in TN (For Microvast).
Oshkosh will also be producing EV garbage trucks in 2021. There isn't much info on this on the internet, other than (2) so I can't say for certain that they will be using Microvast. However, if they are in 2021, then Oshkosh would be importing batteries from the Chinese factory in the meantime. If that is economically feasible, this could open many doors for OSK.
If the government is planning on "electrifying their entire fleet" then they can utilize OSK MVST capabilities. This is why "In 2019, at the request of the U.S. Department of Energy (DOE), Microvast began the process of establishing a Li-ion battery facility in the United States", according to TN,GOV (3)
FPT Industrial/ Iveco Bus/ CNH Industrial
These three companies are all own under CNH. Microvast Signed industrial and commercial cooperation agreement with FPT Industrial (“FPT”), the global powertrain brand of CNH Industrial Group, in 2020. This enables FPT to "design and assemble battery packs in house in Italy". This is their main source of contracted revenue, which goes out until 2025-2027.
The investor presentation contained some products that they were going to produce together. It's not on the investor presentation now as they changed it, but luckily I have a screen shot haha.
Excerpt from IP before mgmt changed it
ARGONNE NATIONAL LABRATORY (the DOE)
Argonne is a U.S department of energy multidisciplinary science and engineering research center, where talented scientists and engineers work together to answer the biggest questions facing humanity, from how to obtain affordable clean energy to protecting ourselves and our environment. (4) As I previously stated that the US DOE requested Microvast builds in the USA, this just further validates that they are working with the Government. I think there will be a lot of collaboration with the gov and Microvast (like the USPS contracted that I predicted), and we will benefit immensely and be a significant part of electrify the government fleet of vehicles.
FORD, and USCAR (Owned by Ford, GM, and Chrystler)
The investor presentation confirmed Ford as an R&D partner. We were all aware that Ford and Microvast have been working together as they entered a 3-year contract in March 2020 (5). We have all read about Ford and their shitty battery partner. I think Ford will be 1 of the 2 marquee customers that mgmt has identified in the potential $3B pipeline.
I think Microvast and Ford will enter a contract similar to the one with FPT. If Microvast allows Ford to use their patents and some of their staff, they can output batteries at a much higher rate. They may also announce another factory (maybe in TX?) where they can supply Ford and other car manufacturers. This is speculation^
On Ford's last conference call, the CEO said they are in advanced talks with a battery supplier. Ford is also "committing $29B to EV" (7) and "100% electric in Europe in 2030" (8). Their european HQ is in Germany, a few hundred miles away from Microvast.
TLDR Microvast has multiple partners that can mass produce vehicles. Oshkosh and Ford are 100 year old+ vehicle manufacturers that can seriously contribute to the electrification of the USA. This is one of the main thesis' of investing in Microvast. If Microvast continues to up their product capabilities, they too will achieve economies of scale and out cost and therefore beat their competition. I've never been so bullish on something and I am all in! I like the stock!
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