Microvast Holdings, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
April 01, 2024 at 05:00 pm EDT
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Microvast Holdings, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 306.62 million compared to USD 204.5 million a year ago. Net loss was USD 106.34 million compared to USD 158.2 million a year ago.
Basic loss per share from continuing operations was USD 0.34 compared to USD 0.52 a year ago.
Microvast Holdings, Inc. is an advanced battery technology company. It designs, develops and manufactures battery components and systems for electric commercial vehicles and utility-scale energy storage systems (ESS). It has developed proprietary technologies spanning the entire battery system, from basic cell materials (cathode, anode, electrolyte, separator) to cooling systems and software controls. It develops and commercializes a range of cell chemistries, including lithium titanate oxide (LTO), lithium iron phosphate (LFP), nickel manganese cobalt version 1 (NMC-1) and nickel manganese cobalt version 2 (NMC-2). It designs, develops and manufactures battery solutions for electric commercial vehicles, such as light, medium and heavy-duty trucks, buses, trains, mining trucks, marine and port vehicles, automated guided and specialty vehicles. Its products are marketed and sold through three regions: Europe, Middle East and Africa; North and South America, and Asia & Pacific.
MICROVAST HOLDINGS, INC. 