PRESS RELEASE

MicrovastPoweredNew Zealand’s First Electric Bus

HUZHOU, China and STAFFORD, Texas, March 26, 2018 – New Zealand’s first electric bus with Microvast fast charging batteries hit the road in Auckland, serving the university’s North-City Campus and South-City Campus bus routes.

The 35-seater bus equipped with MicrovastLpTObatteriescan be fully charged in 10-15 minutes and offer anoperating mileage of 320 km, providing sustainable transport for hundreds of students every day.

E-Bus with Microvast Batteryon the Road in Auckland, New Zealand

New Zealand is one of the countries with the most abundant geological landscapes in the world. The terrain is dominated by mountains and hillswith many slopes on the road.As the first full electric bus to settle in New Zealand, operators attached great importance to the climbing capability of the battery. Microvast fast charging battery systemmet the strict requirement,successfully operating on steep slopes up to a 12% grade with an average power consumption of 0.75 kWh/km and providing solutions for the electric bus to conquer the challenges faced by the country.

This is not the first time Microvast hasfaced the challenge of slopes. As early as 2011, Microvast powered the first full fast-charging e-bus fleet in Chongqing, a city that has similargeological landscapesto New Zealand. The fleet has by far the most successful operating record of all full e-bus fleets deployed in Chongqing which proves the good climbing performance of Microvast fast charging batteries,providing Microvast enough confidence to face the difficult challenge in New Zealand.“The electric bus can be fully charged at bus-stops with a pantograph during driver’s rest time and can run 320 km per charge while the previous ones can only run 200 km with 4-5 hours charging time,”a local vehicle manager mentioned, showing full recognition of Microvast fast charging technology.

Up to now, Microvast batteries have been delivered in more than 150 cities among 13 countries, accumulating more than 1.9 billion km of service and maintaining a zero-accident record.

Operation Map of Microvast Fast Charging Batteries

About Microvast

Microvast is a fast-growing and profitable market leader in the design, development and manufacturing of fast charging, long-life, and non-flammable lithium-ion battery systems. Established in 2006, Microvast was founded with a vision to address current constraints in electric vehicle development and to redesign power systems to drive mass adoption of electric vehicles. The company has supplied more than 20,000 hybrid and fully electric buses with battery systems, operating in more than 150 cities across six countries with over one billion kilometers traveled. Microvast is headquartered in Stafford, Texas (USA) and Zhejiang, China, with offices in the UK and Germany. More information is available at

About Clean City Transit

Clean City Transit plan, or the CCT plan, is Microvast’s primary business strategy. The CCT plan aims to assist in the electrification of urban transportation systems by progressively introducing Microvast’s power battery systems, first to city buses, then to taxis and finally to passenger cars.

CONTACT

Public Relations

Janet Wu, , Tel: +86 572 2756 888

Business Development

Peggie Zhu, , Tel: +1 281 491 9505

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