Microvast Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2021
August 16, 2021 at 05:31 pm EDT
Share
Microvast Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2021. For the quarter, the company reported revenues of $33,372,000 as compared to $21,698,000 a year ago. Loss from operation was $22,340,000 as compared to $6,484,000 a year ago. Net loss was $27,069,000 against $7,857,000 a year ago.
For the six months, the company reported revenues of $48,310,000 as compared to $28,647,000 a year ago. Loss from operation was $33,175,000 as compared to $16,304,000 a year ago. Net loss was $43,368,000 against $18,985,000 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. 
