Microvast Holdings Inc Stock Price, News & Analysis

Microvast (NASDAQ: MVST) has announced a significant partnership with MAFI Transport-Systeme GmbH and TREPEL Airport Equipment GmbH to supply its MV-C Gen 4 lithium-ion battery packs for electric terminal tractors. This collaboration builds on earlier work started in 2021 and highlights Microvast's capability to customize battery solutions for commercial vehicle applications. The MV-C Gen 4 battery packs offer a high energy density of 53.5Ah and a cycle life of over 5,000 cycles. Deliveries are set to commence in 2023, marking a step forward in the electrification of heavy-duty tractors, promoting sustainability in commercial transportation.

Microvast Holdings, Inc. (NASDAQ: MVST) has announced participation in a recruiting event for military veterans and their spouses to staff its new manufacturing facility in Clarksville, Tennessee, set to open in September 2023. The company seeks to hire at least 100 employees, including quality technicians and operations supervisors, highlighting the potential of the veteran workforce. The event will occur on March 15, 2023, promoting local community engagement and supporting veterans transitioning from military service.

This initiative aligns with Microvast's commitment to enhancing the U.S. lithium-ion battery supply chain while continuing its growth as a leader in battery solutions.

Microvast Holdings, Inc. (NASDAQ: MVST) will release its consolidated financial results for Q4 2022 on March 16, 2023, after market close. Management will host a webcast and earnings call at 4:00 PM CT to discuss results and outlook. The event will be accessible via Microvast's investor relations website, and a replay will be available post-event. Microvast, founded in 2006, is a leader in lithium-ion battery solutions, serving various sectors including electric buses and energy storage. The company's focus on fast-charging technology and vertical integration positions it strongly within the industry.

Microvast Holdings, Inc. (NASDAQ: MVST) announced that its president, Sascha Kelterborn, and CFO, Craig Webster, will present virtually at the Baird 2023 Vehicle Technology & Mobility Conference on February 15, 2023, at 3:40 p.m. CT. Investors can access a live webcast and replay on the company's investor relations website. Microvast, established in 2006 in Houston, Texas, specializes in lithium-ion battery solutions for various applications, including electric buses and grid-scale energy storage. The company boasts advanced cell technology and extensive vertical integration, offering a range of fast-charging battery solutions tailored to diverse customer needs.

Microvast Holdings (NASDAQ: MVST) has partnered with REE Automotive (NASDAQ: REE) to provide MV-C Gen 4 lithium-ion battery packs for REE’s P7 commercial electric vehicle platforms. This collaboration will be displayed at NTEA Truck Week from March 7-10 in Indianapolis. Microvast’s batteries are designed to enhance energy density and power performance while ensuring rapid charging abilities, certified for safety standards. The deal aims to support fleet owners with high-tech, zero-emission vehicles tailored to their logistics needs, utilizing the innovative REEcorner technology for flexible platform design.

Microvast Holdings, Inc. (NASDAQ: MVST) will virtually present at the 25th Annual Needham Growth Conference on January 12, 2023, at 2:45 p.m. CT. The presentation will be led by Sascha Kelterborn, president and chief revenue officer, and Craig Webster, chief financial officer. A live webcast and replay will be available on the company's investor relations website. Founded in 2006, Microvast specializes in lithium-ion battery solutions, catering to various sectors including commercial and specialty vehicles, and grid-scale energy storage applications.

Microvast Holdings, Inc. (NASDAQ: MVST) has opened a new 30,000 square foot Technology and Testing Center in Timnath, Colorado. This facility aims to enhance the company's growth in the lithium-ion battery sector, focusing on utility-scale energy storage solutions. It will accommodate engineering labs, customer training areas, and flexible office spaces, facilitating product development, sales, and marketing. Earlier this month, Microvast secured a significant contract for a 1.2GWh battery storage project in the U.S., highlighting its expanding influence in the energy storage market.

Microvast Holdings (NASDAQ: MVST) has secured a contract to supply a utility-scale battery energy storage system (BESS) for a 1.2GWh project located in the U.S. This project will utilize the BESS ME-4300 solution, featuring 4.3MWh energy density per container and over 10,000 cycles battery life. Shipments are expected to begin in 2023 with operations starting in 2024. The project aligns with the Inflation Reduction Act for domestic content, enhancing benefits for Microvast. The COO emphasized this achievement as a significant step in the growing energy storage market.

Microvast Holdings, Inc. (NASDAQ: MVST) reported its third quarter 2022 results, highlighting a 4.7% year-over-year revenue growth of $38.6 million despite market challenges. The company achieved a gross profit of $2.0 million, a significant turnaround from a gross loss of $35.9 million a year prior. Operating expenses were reduced to $39.6 million from $78.0 million. Net loss decreased to $36.5 million from $116.5 million. Looking ahead, Microvast anticipates 35% to 40% revenue growth for FY 2022 and has a backlog of $140.6 million.