Microvast Holdings, Inc..
MVST.US | Manufacture of batteries and accumulators
Microvast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. The company offers a range of battery solutions, including lithium-ion battery cells, modules, and packs, with a focus on fast-charging, long-life, and high-safety character...Show More
Better Health for All
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Microvast's core products, batteries for electric vehicles (EVs), contribute to reduced air pollution and improved respiratory health, including fewer asthma-related emergency room visits, as evidenced by a study linking EV adoption to these outcomes.
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This indicates that 100% of the company's product portfolio, when utilized, delivers substantial health benefits. However, the adoption of electric vehicles, which Microvast's products enable, has been significantly slower in low-resource zip codes, indicating that vulnerable populations are not obtaining equitable access to these health benefits.
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While the company's products contribute to reduced vehicle emissions, the article notes that further research is needed into other potential environmental impacts such as emissions from brake/tire wear, material mining, and vehicle disposal, suggesting a neutral score for overall health externalities until a clearer picture emerges.
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Fair Money & Economic Opportunity
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Microvast Holdings, Inc. is a battery manufacturer and does not offer lending, deposit, or other financial services to consumers.
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The provided articles contain no information related to financial products, services, or economic opportunity initiatives. Therefore, all KPIs under the 'Fair Money & Economic Opportunity' value are not applicable to the company's operations.
Fair Pay & Worker Respect
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No specific, concrete data points were found in the provided articles for any of the KPIs under the 'Fair Pay & Worker Respect' value. Information regarding collective bargaining agreements was a reference to a schedule, not a percentage of employees covered.
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Allegations of WARN Act violations in a class action lawsuit are not considered substantiated violations. Details on workforce reductions refer to involuntary layoffs, not voluntary employee turnover.
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Fair Trade & Ethical Sourcing
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No specific, quantitative evidence was found in the provided articles to score any of the KPIs related to Fair Trade & Ethical Sourcing. The articles mention general policies for suppliers regarding labor practices and human rights, a partnership for future battery traceability, and internal certifications for facilities. However, they do not provide percentages of spend on certified materials, audit frequencies, numbers of substantiated labor incidents, traceability coverage percentages, remediation times, ethical clause coverage percentages in supplier contracts, share of high-risk materials spend, or supplier diversity spend percentages. Therefore, all KPIs are omitted as per the scoring rules.
Honest & Fair Business
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Microvast Holdings, Inc. has stated that it currently faces no admonitions, penalties, investigations, or inquiries from environmental or worker safety regulators, nor is it involved in legal proceedings for violating these laws.
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However, the company restated its financial statements for the quarterly periods ended June 30, 2024, and September 30, 2024, due to an impairment error.
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A material weakness in internal control over financial reporting related to IT general controls for the ERP system was also identified as of December 31, 2024.
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The company has a Whistleblower Hotline available 24/7 via phone, website, and email for confidential, anonymous reporting, and prohibits retaliation for good faith reports.
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Three out of five (60%) of the company's directors are independent.
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A code of business conduct and ethics is in place, applicable to directors, officers, and employees.
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The company is committed to complying with anti-corruption laws, including the U.S. Foreign Corrupt Practices Act (FCPA), and requires prior written approval for payments to government officials and due diligence for representatives.
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Kind to Animals
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No information regarding MVST.US's practices or policies related to animal welfare, animal testing, animal-derived ingredients, habitat impact, or any other 'Kind to Animals' metrics was found in the provided articles.
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No War, No Weapons
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No specific, concrete evidence was found in the provided articles to assess Microvast Holdings, Inc. against any of the 'No War, No Weapons' KPIs. does not mention the company.
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, the company's Code of Ethics, explicitly states 'No explicit mention' for most relevant KPIs.
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A general statement about striving to respect globally recognized human rights was not specific enough to map to any UNGP alignment tier, as it lacks explicit mention of UNGP, implementation details, or measurable outcomes.
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Planet-Friendly Business
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No evidence available to assess Microvast Holdings, Inc. on Planet-Friendly Business.
Respect for Cultures & Communities
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No specific, quantitative evidence was found in the provided articles to assess Microvast Holdings, Inc. against any of the KPIs for the 'Respect for Cultures & Communities' ethical value. The articles discuss general company activities, financial results, and environmental sustainability efforts, such as an EMEA plant powered by 100% renewable energy
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and up to 85% of battery materials reused or repurposed,
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but do not provide data on community partnerships, cultural impact assessments, local employment ratios, grievance mechanisms for communities, or any other metrics directly related to cultural and community respect.
Safe & Smart Tech
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Microvast Holdings, Inc. reported no material cybersecurity incidents impacting operations or unauthorized data use for the year ended December 31, 2024.
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The company states adherence to applicable regulations, including U.S. laws and GDPR/equivalent laws in Europe, and mentions compliance with ISO 26262 (automotive functional safety) and ISO 21434 (automotive cybersecurity) standards.
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Users can review, change, and delete their personal information.
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Multi-factor authentication is required for email and collaboration platforms.
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Internal control evaluations are routinely conducted to address vulnerabilities, and various security testing measures are implemented.
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The company's privacy policy indicates data retention for active accounts and legal obligations, and privacy principles are integrated into product development.
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Encryption technologies are deployed to protect intellectual property, and employee training for incident response is mentioned.
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Zero Waste & Sustainable Products
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Up to 85% of battery materials are reused or repurposed through partnerships with third-party suppliers.
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No waste disposal violations or citations are mentioned in the provided information.
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