Oshkosh Corporation, a leading provider of mission-critical vehicles and essential equipment, announced a planned $25-million private investment in public equity (PIPE) in Microvast, a global provider of next-generation battery technologies for commercial and specialty electric vehicles.

Oshkosh and Microvast also entered into a joint development agreement highlighting future battery collaboration and integration.

This relationship bolsters Oshkosh’s existing technology strategy to increase the development of advanced products that support the current and future needs of customers.

Oshkosh has been pioneering electric products since the mid-1990s when the Company launched its first electric boom lift. Oshkosh has continued to develop and introduce electric solutions in all its business segments for more than two decades.

Microvast announced a merger with Tuscan Holdings Corp. (a SPAC) on 1 February 2021.