Microvast Holdings, Inc. Revises Earnings Guidance for the Year 2023
May 09, 2023
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Microvast Holdings, Inc. revised earnings guidance for the year 2023. The company is raising annual revenue guidance for the full year from a range of $336 million to $358 million, representing year-over-year revenue growth 65% to 75%, to a range of $348 million to $368 million, reflecting growth of 70% to 80%.
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. 
