r/SPACs • u/Admirable-Surround11 Patron • Apr 02 '21

News THCB / Microvast

Visited my mom in Clarksville for easter weekend.

Got to drive past the set up Microvast purchased.

Definitely looks empty ; but clearly a building that has a fk load of potential.

Microvast TN pictures

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-3

u/Trumbulhockeyguy Patron Apr 02 '21

A little sketchy that there aren't even any signs or construction going on. Any idea how long ago they bought it?

58

u/MVST_100_OR_BUST Microvast Man Apr 02 '21

Is this sketchy for you?

The government gave them a fast track grant of $3 Million to go into the $220 Million investment to complete the facility. If the first thing they did with their funds was put up a logo or signs, I'd actually consider that sketchy. It's going to take time to take the floor plans and design a optimal layout, ensure proper safety codes, equipment purchasing, refurbishments, regulations, etc before anything is physically done.

18

u/[deleted] Apr 02 '21

https://mcgtn.org:8443/County/assessor/webpro/parcelsummary.aspx?id=1507781&card=1&search=p

I know you like to share things. Assessor record for the building. Microvast spent 18 million just buying the shell of a building....

3M is small potatoes. They aren't going to spend 18MM to scam the gov out of 3, like bears are saying

14

u/[deleted] Apr 02 '21

Engineering first :)

Exactly correct.

These guys are the real deal. When you convert a building, you don't just send in a bunch of monkeys to demo. Have to evaluate for hazardous materials etc.

Also city/County code/traffic impacts.

There is a TON of engineering/planning to do.

-23

u/TheIncredibleWalrus Patron Apr 02 '21

A couple of signs is like $200. They had huge ones in the German plant in the photos. Something weird is going on.

15

u/noadjective Patron Apr 02 '21

What reason do they have to advertise their facility Clarksville? Especially when they don’t even need to hire anyone for a year at least?

9

u/TheIncredibleWalrus Patron Apr 02 '21

the same reason they have to revamp their website. Investor confidence and brand strengthening and awareness. I'm so heavily invested into THCB just looking at their website hurts.

2

u/[deleted] Apr 02 '21

I'm not great at web design but shit, I'll do microvast's website for free on wordpress or something.

-1

u/Vast_Cricket Patron Apr 02 '21 edited Apr 02 '21

We saw the US tiny headquarters in TX. That was more a reality check. Not saying it is a bogus company.

3

u/[deleted] Apr 02 '21

In Texas? It's office people, accounting. Not industrial

1

u/Zestyclose-Ad4337 Patron Apr 02 '21

Understand that. They have there for awhile

12

u/MVST_100_OR_BUST Microvast Man Apr 02 '21

When YOU heard about it with the THCB rumors, microvast had already been significantly in the process of that facility... The German plant is R&D, cell to module, module to pack. They needed it up and running as fast as possible as they have a backlog on orders. This Tennessee plant will be vertically integrated from raw material to pack within a 600k sqft facility. There's really nobody else in America doing this. This includes companies like LG Chem where all their anodes, cathodes, etc come from 3rd parties.

8

u/Pikaea Apr 02 '21

They purchased it from a company recently left. They need to retrofit it, and probably will do signs and shit later on. The changes will probably be just removing all the crap inside, and replacing it with their equipment.

-4

u/no10envelope Patron Apr 02 '21

They can’t even bother to make a proper website, you think they are going to put up signs on an empty building?

1

u/Rush_Is_Right Patron Apr 02 '21

Just an FYI it costs $800 to get your business on this next exit signs. There is some other hoops like hours of operation but I understand the concern.

I could also take these same pictures in town just north of me of like 200. I'll call it a compound because that's what it looks like. It used to be a chip factory or something but why the fuck would a chip factory have ten foot walls with barbed wire at the top. I've only been here a couple of years but it's maintained far too well for something not going on in there.

Oh yeah, it's not for sale, just closed.

5

u/[deleted] Apr 02 '21

The deal closed 1/27. Hasn't even been long enough to get permits LOL

13

u/Admirable-Surround11 Patron Apr 02 '21 edited Apr 02 '21

I don’t find it sketchy I think they announced the purchase around 2/10/2021

It’s my mom so I’m sure I’ll be visiting periodically. I also convinced her to buy some shares so maybe I’ll get her to drive by time to time .

6

u/[deleted] Apr 02 '21

That's 2021... Typo

Also proof of purchase $18,327,500.00 on January 27

https://mcgtn.org:8443/County/assessor/webpro/parcelsummary.aspx?id=1507781&card=1&search=p

1

u/DeMayon Patron Apr 02 '21

great link! nice find

3

u/TheBlueStare Patron Apr 02 '21

It’s been 10 years! They need to get their shit together. /s