Microvast and Minespider to Show Battery Passport Demo at IAA Transportation 2024
Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, and Minespider, a technology company offering battery passports compliant with the EU Battery Regulation, today announced that together they will show a Battery Passport demo for the first time at IAA Transportation 2024. The event will take place in Hannover, Germany from September 17 to 22, 2024. On August 27, 2024, Minespider and Microvast announced a strategic partnership to implement Battery Passports for Microvast battery solutions for EU customers that comply with the EU Battery Regulation.
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Microvast Battery Passport (Photo: Business Wire)
IAA Transportation 2024 is an international trade fair focused on mobility, transportation and logistics. Microvast and Minespider are pleased to present a Battery Passport demo during one of the key global events for businesses and professionals in the transportation and logistics markets and show how their strategic partnership will help Microvast collect, store and manage battery data in alignment with the EU Battery Regulation. The Battery Passport demo will include general information about the battery such as battery identification number, manufacturing date and place, material composition of the battery, carbon footprint information, due diligence information and other details about the battery required by the EU Battery Regulation.
From February 2027, all electric vehicle (EV) batteries, light means of transport (LMT) batteries and industrial batteries exceeding 2kWh must have a Battery Passport in order to enter the European market. As a highly innovative battery manufacturer, Microvast understands how important it is to act before the EU Battery Regulation comes into force. As part of the strategic partnership, Minespider will assess and confirm Microvast's readiness to comply with the EU Battery Regulation, followed by implementation of the Battery Passports. Information about the battery type, chemistry and performance data and sustainability data will be listed in the Battery Passports. Microvast’s batteries will also benefit from the latest AI data management system implemented by Minespider. With the system, companies can upload documents, and the AI automatically extracts relevant data into the Battery Passport, ensuring all required information is accurately captured. Additionally, the system identifies and highlights any potential gaps in the data, enabling corrective action to maintain compliance with the EU Battery Regulation and data integrity.