Microvast Holdings, Inc. (MVST)

Revenue by Segment

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Batteries / Battery Systems	427.52M	379.80M	306.62M	204.50M	151.98M
Batteries / Battery Systems Growth	12.56%	23.87%	49.94%	34.56%	41.35%
Total	427.52M	379.80M	306.62M	204.50M	151.98M
Total Growth	12.56%	23.87%	49.94%	34.56%	41.35%

Revenue by Geography

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
China	138.95M	127.14M	156.48M	132.47M	93.33M
China Growth	9.29%	-18.75%	18.13%	41.94%	41.06%
India	34.57M	48.77M	60.61M	47.32M	17.81M
India Growth	-29.12%	-19.53%	28.07%	165.78%	107.76%
Other Asia & Pacific	2.75M	1.79M	2.05M	5.24M	8.17M
Other Asia & Pacific Growth	53.77%	-12.51%	-60.96%	-35.84%	262.56%
Italy	92.94M	150.81M	56.59M	6.39M	3.14M
Italy Growth	-38.37%	166.48%	785.77%	103.47%	-47.36%
France	78.19M	12.76M	7.82M	-	-
France Growth	512.60%	63.31%	-	-	-
Other Europe	40.81M	24.15M	19.95M	9.42M	5.02M
Other Europe Growth	69.02%	21.03%	111.78%	87.80%	-26.29%
U.S.	39.31M	14.39M	3.13M	3.65M	918.00K
U.S. Growth	173.20%	360.24%	-14.38%	297.71%	67.21%
United Kingdom	-	-	-	-	11.39M
United Kingdom Growth	-	-	-	-	-1.37%
Russia	-	-	-	-	12.21M
Russia Growth	-	-	-	-	115.36%
Total	427.52M	379.80M	306.62M	204.50M	151.98M
Total Growth	12.56%	23.87%	49.94%	34.56%	41.35%

Source: S&P Global Market Intelligence.