UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 67,398	$ 231,420
Restricted cash, current	21,803	70,732
Short-term investments	25,496	25,070
Accounts receivable (net of allowance for credit losses of $4,407 and $3,242 as of December 31, 2022 and September 30, 2023, respectively)	116,300	119,304
Notes receivable	20,161	2,196
Inventories, net	126,913	84,252
Prepaid expenses and other current assets	25,840	12,093
Total Current Assets	403,911	545,067
Restricted cash, non-current	11	465
Property, plant and equipment, net	549,544	335,140
Land use rights, net	11,734	12,639
Acquired intangible assets, net	3,210	1,636
Operating lease right-of-use assets	19,612	16,368
Other non-current assets	28,540	73,642
Total Assets	1,016,562	984,957
Current liabilities:
Accounts payable	95,294	44,985
Notes payable	39,329	68,441
Accrued expenses and other current liabilities	121,816	66,720
Advance from customers	54,482	54,207
Short-term bank borrowings	24,818	17,398
Income tax payables	652	658
Total Current Liabilities	336,391	252,409
Long-term bonds payable	43,888	43,888
Long-term bank borrowings	30,839	28,997
Warrant liability	151	126
Share-based compensation liability	187	131
Operating lease liabilities	16,951	14,347
Other non-current liabilities	20,817	32,082
Total Liabilities	449,224	371,980
Commitments and contingencies (Note 16)
Shareholders’ Equity
Common Stock (par value of US$0.0001 per share, 750,000,000 and 750,000,000 shares authorized as of December 31, 2022 and September 30, 2023; 309,316,011 and 316,534,825 shares issued, and 307,628,511 and 314,847,325 shares outstanding as of December 31, 2022 and September 30, 2023)	32	31
Additional paid-in capital	1,468,173	1,416,160
Statutory reserves	6,032	6,032
Accumulated deficit	(872,965)	(791,165)
Accumulated other comprehensive loss	(35,925)	(18,081)
Total Microvast Holding, Inc. shareholders’ equity	565,347	612,977
Noncontrolling interests	1,991	0
Total Equity	567,338	612,977
Total Liabilities and Equity	$ 1,016,562	$ 984,957