Microvast sees FY22 y/y revenue growth 35%-40% 16:18 MVST The company said, "Microvast confirms year over year revenue growth for the year ended December 31, 2022 ("FY 2022") is expected to be in the range of 35% to 40%. The Company's backlog at the end of Q3 2022 was $140.6 million, an increase of 166.8% compared to $52.7 million at the end of Q3 2021. The Company expects capital expenditures for the remainder of FY 2022 to be approximately $90.0 million to $120.0 million, which will be primarily used in connection with the Company's ongoing manufacturing capacity expansions in Huzhou, China and Clarksville, Tennessee."
Microvast Holdings, Inc. (MVST)
NasdaqGS - NasdaqGS Real Time Price.
2.4400+0.1700(+7.49%)
At close: November 10 04:00PM EST
2.4300-0.01(-0.41%)
Pre-Market:06:34AM EST
Description
Microvast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator. In addition, the company offers battery solutions for commercial vehicles and energy storage systems. Its commercial vehicle markets cover buses, trains, mining trucks, marine and port applications, and automated guided and specialty vehicles, as well as light, medium, heavy-duty trucks in the United States and internationally. The company was incorporated in 2006 and is based in Stafford, Texas.