Microvast reports first quarter 2024 financial results

Stafford, texas--(business wire)--microvast holdings, inc. (nasdaq: mvst) (“microvast” or the “company”), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, today announced unaudited condensed consolidated financial results for the first quarter ended march 31, 2024 (“q1 2024”). results for q1 2024 revenue of $81.4 million, compared to $47.0 million in q1 2023, an increase of 73.2% gross margin increased to 21.2% from gross margin of 10.3% in q1 2023;.
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