Microvast to Make Electric-Bus Batteries for Iveco

By Matt Grossman

Microvast Holdings Inc. and FPT Industrial will provide batteries for a new series of electric buses to be produced by Iveco Group N.V., the companies said Monday.

Microvast's collaboration on the project follows a 2019 deal with FPT -- an Iveco subsidiary -- to work together on battery packs for commercial vehicles.

Houston-based Microvast will make battery cells and modules for the project at various international sites, and the components will be assembled into battery packs at FPT Industrial's factory in Turin, Italy, the companies said.

The new Iveco bus series, called the Crossway Low Entry, is designed for city and intercity use.

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(END) Dow Jones Newswires

01-10-22 0828ET