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Organization and Principal Activities (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of company subsidiaries

Subsidiaries

 

Place of incorporation

 

Date of
incorporation
or acquisition

 

Percentage
of ownership

Microvast Power Solutions, Inc
(“MP Solutions”)

 

Texas, USA

 

July 2013

 

100%

Microvast Power Systems Co., Ltd. (“MPS”)

 

Huzhou, PRC

 

December 2006

 

91.97%

Microvast Power Systems UK Limited (“MP UK”)

 

Cardiff, United Kingdom (“UK”)

 

September 2014

 

100% owned by MPS

Microvast GmbH (“MV GmbH”)

 

Germany

 

May 2016

 

100%

Huzhou Microvast Electric Vehicle
Sales Service, Ltd.
(“MV E-Vehicle”)

 

Huzhou, PRC

 

July 2017

 

100% owned by MPS

Huzhou Hong Yang Taxi Co., Ltd.
(“MV Taxi”)

 

Huzhou, PRC

 

October 2017

 

100% owned by MPS

Microvast APAC PTE. LTD.
(“MV Singapore”)

 

Singapore

 

May 2017

 

100% owned by MPS

Huzhou Hongwei New Energy
Automobile Co., Ltd. (“Hongwei”)

 

Huzhou, PRC

 

December 2016

 

100% owned by MPS