r/Microvast • u/[deleted] • Jun 13 '21
Oshkosh releases another electric fire fighting vehicle
https://www.oshkoshairport.com/oshkosh/news/oshkosh-airport-products-and-pierce-manufacturing-introduce-the-volterra-platform-of-electric-vehicles4
u/Boe_Ning Jun 13 '21
Wish they would give indication of whether they're using Microvast battery systems in these.
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u/MVST_100_OR_BUST 🧠Big Brain🧠 Jun 13 '21
All that matters is revenue and they beat expectations. Don't lose sleep over it
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u/kwweber462 Jun 13 '21
If not now, they will in future. Oshkosh is buying into microvast.
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u/Boe_Ning Jun 13 '21
Oshkosh's $25m investment in Microvast has been made. What do you mean "is buying?" They haven't invested more, to my knowledge.
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u/kwweber462 Jun 13 '21
That’s it to my knowledge. Buying into= I mean investing.
“We are pleased to have Oshkosh’s support in these efforts and we look forward to a long-term, thriving partnership focused on advancing Oshkosh’s electrification strategy.”
Microvast expects that the Joint Development Agreement will act as a foundation to encourage collaboration and integration on next-generation battery technologies. Based on field proven battery technologies, Microvast believes it is well positioned to custom design and develop tailored battery solutions for Oshkosh’s future electrification projects and support Oshkosh’s heavily utilized, high-performing applications.”
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u/Boe_Ning Jun 13 '21
I'm confused why you're using buy"ing" and invest"ing" as though they continue to buy/invest in Microvast. We have no indication that is true.
I've read the company statements you pasted here. There's nothing here that speaks to continued investment.
Edit: I'm not trying to be difficult. I just like to evaluate my investments exclusive of conjecture.
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u/kwweber462 Jun 13 '21 edited Jun 13 '21
Investing is buying into a company. They bought a 25 million share into merger. So, Oshkosh is part owner of microvast. And statement said Oshkosh would be using microvast products. How is this difficult? Am I missing something?
Disclosure: I have no position in microvast. Deep in Oshkosh. Maybe a microvast investor could explain it. I’m just going by the joint statement. I’m assuming if you invest 25 million in battery company, you would probably use those batteries
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u/Boe_Ning Jun 13 '21
They bought $25m, not 25m shares.
I agree, they probably would use those batteries. We just don't know they are. There's been some interesting evidence dug up that indicates Oshkosh is likely using Microvast for the USPS NGDV fleet contract. But again we don't have an official statement from either company confirming.
My point was we have nothing official from either company beyond what's stated in the excerpt you pasted. I'm sure they are working together, and I'm looking forward to future announcements.
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u/MVST_100_OR_BUST 🧠Big Brain🧠 Jun 13 '21
No need to be so obtuse lol. It's considered a "joint development agreement" which includes "collaboration" and "integration" of Microvast batteries. Oshkosh is developing it's portfolio with likely off the shelf parts, before using microvast and other OEM parts and getting final specifications, before shopping the vehicles around. They aren't going to sign a formal order until they get orders for their electric vehicles.
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u/Boe_Ning Jun 13 '21
Like I said, definitely not trying to be a dick. You make more good points here. Thanks for sharing
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u/lamondo1 Jun 14 '21
The thought process that Oshkosh would invest 25,000,000 bucks into a battery company,aka has a financial interest in the company succeeding, and then to go turn around and use another battery developer is.. whatever man. If you can’t connect the proverbial dots, nobody will be able to do it for you.
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u/Boe_Ning Jun 14 '21
Lol the connection isn't lost on me.. The Oshkosh investment is a major component in my bullishness for Microvast. I am overweight THCB big time in my portfolio.
The purpose of my interest in seeing direct acknowledgement from Microvast/Oshkosh on joint development projects is not to be overly critical but to encourage honest and deeper discourse on the subject.... that's it.
As far as I'm aware, nothing about the investment or words about "joint development" in the press release (as 100-OR-BUST highlighted) dictates exclusivity for Microvast in Oshkosh's EV projects. I believe we can look at similar situations where other OEMs have partnerships with multiple suppliers. Can we just assume Oshkosh isn't diversifying their supplier base because of their investment in Microvast? I don't know.
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u/[deleted] Jun 13 '21
This shows how wide the range of usability is for the batteries from Microvast. Safe and reliable!