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Microvast Holdings, Inc. - $MVST STOCK NEWS

Welcome to our dedicated page for Microvast Holdings news (Ticker: $MVST), a resource for investors and traders seeking the latest updates and insights on Microvast Holdings stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Microvast Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Microvast Holdings's position in the market.

Rhea-AI Summary
Microvast Holdings, Inc. (NASDAQ: MVST) is expanding its Colorado energy division with a new facility in Windsor, Colorado. The facility, expected to be operational in 2023, will provide 100,000 square feet of production space for the manufacturing of energy storage systems (ESS). The expansion aims to support the fast-growing utility-scale energy storage market and boost the local economy by creating more jobs in Colorado.
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12.11%
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Rhea-AI Summary
Microvast Holdings, Inc. responds to the U.S. Department of Energy's decision to withdraw a $200 million grant for a new facility in Kentucky. The company is considering its options but remains committed to investing in its U.S. expansion plans. The withdrawal will not impact the company's battery manufacturing facility in Tennessee or its financial guidance. Microvast expects revenue in the U.S. to exceed $100 million this year.
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5.71%
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Microvast Holdings, Inc. announces strong Q1 2023 results with revenue growth of 28.1% YoY and record backlog of $486.7 million. Gross margin increased to 10.3% and adjusted gross margin increased to 13.5%. The company raises its full year 2023 revenue guidance to $348 million to $368 million, reflecting YoY growth of 70% to 80%.
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42.75%
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Microvast Holdings is nearing completion of renovations and hiring for its new battery manufacturing plant in Clarksville, TN. The plant is expected to begin production in Q4 2023 and will focus on manufacturing high-performance battery cells and modules for commercial vehicles and energy storage systems. The renovated plant will support the entire production process and include environmental tests and a new quality lab. Microvast has also ramped up hiring, with a focus on adding local veterans and their spouses to the team.
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Microvast Holdings, Inc.

Nasdaq:MVST

MVST Rankings

MVST Stock Data

129.07M
181.31M
28.75%
25.62%
9.81%
Heavy Duty Truck Manufacturing
Manufacturing
Link
United States of America
STAFFORD

About MVST

microvast, incorporated is the parent company of microvast power systems, microvast materials and ochem. each company represents a piece of the vertical integration strategy for manufacturing top level advanced power solutions. founded in 2006 as a primarily research and technology driven company, microvast, inc., has evolved into a completely vertically integrated advanced power and technology company that maintains strict quality control from the very bottom all the way to the top. this quality is reflected in the top-level advanced power solutions we provide, as well as within each of our other products from our integrated companies. it also gives us some significant customization flexibility and cost advantages when meeting the needs of our customers. at its heart microvast is a battery chemistry innovator with over 250 patent applications, and over 100 core patents for all battery cell components. microvast’s manufacturing operations are centered in huzhou zhejiang china. our