Microvast Holdings Inc (NASDAQ:MVST) shares are trading higher Thursday after the company introduced two new lithium ion battery cells and upgraded Gen 4 battery packs.
The new lithium ion battery cells were specifically designed to meet technical requirements for powering commercial and specialty vehicles. The cells are available in the same dimensions and can be integrated into Microvast’s new Gen 4 battery packs.
This increased flexibility allows customers to choose between standardized cells designed for either high-power or high-energy requirements without changing the powertrain design.
"We expect these next generation battery cells to become pivotal revenue drivers for our business going forward," said Yang Wu, president and CEO of Microvast.
Microvast is a technology innovator that designs, develops and manufactures lithium ion battery solutions.
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MVST 52-Week Range: $4.77 - $15.91
The stock was up 11.3% at $8.21 at press time.
Photo: courtesy of Microvast.
