- Following its merger with Tuscan Holdings in July, battery supplier Microvast reported its earnings for the first time as a public company last month.
- The company's year-to-date revenues grew 43% from the prior year to $85.2 million, while long-term contracted revenues grew significantly from $1.5 billion in February to $3.3 billion in Q3.
- MVST has also been chosen by CATL as a key material supplier for its LFP cells in Q3, which further validates MVST's technological competency in the field.
- As MVST continues to press toward completion of its production capacity expansion projects across the U.S., China and Germany, and prepare for the launch of two new battery products in 2022, the company is well-positioned to capitalize on rising demand across the battery supply chain in the coming years.
- The company's vertically integrated business model, which allows it to provide end-to-end battery solutions to customers, also extends its total addressable market, while enabling cost-efficiencies to drive greater margins. This makes MVST an attractive investment opportunity at its current valuation, which still trails behind comparable industry peers.
For further details see:
Microvast Stock Forecast: What To Consider For 2022