Shares of Microvast Holdings Inc. (MVST) skyrocketed 46.26% in pre-market trading on Friday, following the company's announcement of a significant breakthrough in its true all-solid-state battery (ASSB) technology.

Microvast achieved stable operation of its proprietary ASSB technology in the 12V-21V range, eliminating the need for liquid electrolytes. This bipolar stacking architecture enhances energy density, operational safety, and allows the batteries to operate at higher voltages unattainable by conventional designs. The solid-state design prioritizes scalability while addressing real-world safety and efficiency challenges in energy storage solutions.

This milestone positions Microvast to meet the evolving needs of industries requiring reliable and safe energy storage, such as data center backup power systems, electric school buses, and advanced robotic systems. CEO Yang Wu hailed the innovation as a "significant leap forward," while CTO Dr. Wenjuan Mattis highlighted its "transformative potential." Analysts are optimistic about Microvast's prospects in these emerging applications, driving investor enthusiasm and the stock's surge on Friday.