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PREFERRED SHARES | 12 Months Ended
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Dec. 31, 2022
Preferred Stock, Number of Shares, Par Value and Other Disclosure [Abstract] |
PREFERRED SHARES | 21. PREFERRED SHARES On July 23, 2021, upon the completion of the Merger between Microvast, Inc. and Tuscan, all preferred shares were converted into Common Stock of the combined company at the Common Exchange Ratio of 160.3 as disclosed in Note 3. The changes in the balance of Series C1 Preferred shares (“Series C1 Preferred”), Series C2 Preferred shares (“Series C2 Preferred”), Series D1 Preferred shares ('Series D1 Preferred') and redeemable noncontrolling interests included in the mezzanine equity for the years ended December 31, 2020 and 2021 were as follows:
(In thousands) |  | Series C1 Preferred |  | Series C2 Preferred |  | Series D1 Preferred |  | Redeemable noncontrolling interests
Ending balance as of January 1, 2020 |  | $ | 76,684 |  |  | $ | 73,100 |  |  | $ | 127,935 |  |  | $ | 80,561 |
Accretion |  | 3,897 |  |  | 8,866 |  |  | 18,648 |  |  | 10,259 |
Ending balance as of December 31, 2020 |  | $ | 80,581 |  |  | $ | 81,966 |  |  | $ | 146,583 |  |  | $ | 90,820 |
Accretion from January 1 to July 23 |  | 2,257 |  |  | 5,132 |  |  | 10,708 |  |  | 5,841 |
Conversion as of Merger |  | (82,838) |  |  | (87,098) |  |  | (157,291) |  |  | (96,661) |
Ending balance as of December 31, 2021 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 + Details
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