Microvast Holdings, Inc. (NASDAQ:MVST) is one of the Best Performing EV Stocks So Far in 2025. The company has announced a strategic partnership with Evoy, which is a Norwegian company that specializes in high-output electric motor systems for boats. Notably, this collaboration is Microvast Holdings, Inc. (NASDAQ:MVST)’s debut in the electric boat segment and reflects an expansion of Evoy’s battery options for diverse market applications. Notably, Evoy plans to integrate Microvast MV-I high-power battery packs into the leisure boat product line.
A row of electric vehicles all powered by the company's advanced battery systems.
For Q1 2025, Microvast Holdings, Inc. (NASDAQ:MVST) booked a net profit of $61.8 million and a positive adjusted EBITDA of $28.5 million, reflecting an increased demand for its advanced battery solutions as well as the effectiveness of its emphasis on profitability and operational efficiency. The company achieved record Q1 2025 revenue of $116.5 million, a strong 43.2% YoY growth. Furthermore, Microvast Holdings, Inc. (NASDAQ:MVST) continues to achieve significant traction in the commercial vehicle sector, mainly within EMEA, where it saw more than 100% growth YoY.
Microvast Holdings, Inc. (NASDAQ:MVST) expects that its high-growth EMEA business will maintain strong momentum and will continue to fuel YoY revenue increases. The company has been actively pursuing new strategic partnerships in the region in order to help its current and upcoming product lines.
Microvast Holdings, Inc. (NASDAQ:MVST) offers battery technologies for EVs and energy storage solutions.
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Disclosure: None. This article is originally published at Insider Monkey.