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Orlando, Fla. – Fast-growing manufacturer of battery power systems for electric vehicles (EV), Microvast, announced plans to establish a new research and development (R&D) facility and create a projected 100 new, high-wage jobs in the Orlando region. These jobs will pay 60 percent more than the average wage in Seminole County. The operation presents an expected investment of $25 million for its new laboratory and research space including building renovations, machinery, and equipment, in the city of Lake Mary.
“Microvast’s industry-leading portfolio of battery technologies positions the company for incredible growth in the $30 billion market for commercial and specialty EV,” said Yang Wu, CEO and owner at Microvast.
The company’s expansion comes on the heels of other EV and autonomous vehicle (AV) investments in Orlando including AV sensor tech company Luminar ($LAZR), autonomous mobility service provider Beep Inc.’s electric, driverless shuttle system and electric vertical landing and takeoff (eVTOL) company Lilium’s ($LILM) new U.S. vertiport in Lake Nona.
https://news.orlando.org/blog/batterytech-firm-microvast-opens-new-research-facility-in-orlando/
