In order to reverse the gain it made yesterday, Microvast Holdings Inc. (Nasdaq: MVST) is down on the charts today, dropping -5.83% to trade at $2.10 at the last check in premarket activity. Shares of MVST increased 40.25% on Wednesday to end the day at $2.23.
Why did the MVST decline?
The ME-4300-UL ESS Container (the “ESS Container”), the first battery energy storage system from Microvast (MVST) was introduced.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Highlights & Features of ESS Containers
The ESS Container is made for energy-shifting uses such as the integration of renewable energy sources, coping with peak demand, and capacity assistance. The ESS Container, which is ready to install and has an industry-leading energy density of 4.3 MWh per container (up to 30% greater energy density than leading rivals), demonstrates Microvast’s dedication to being the top provider of energy storage for utility-size projects.
MVST’s commercial EV battery technology is based on battery cells and modules that have undergone rigorous testing and qualification. These batteries also have innovative safety features like systems for preventing fires and explosions, the sixth generation of advanced battery management systems, and are anticipated to be recognized as “domestic content” for the purposes of the Inflation Reduction Act.
How MVST is making a difference?
The lithium-ion battery solutions created by Microvast for the commercial electric vehicle (EV) sector are the foundation for the battery cell and module technologies utilized in the ESS container. The battery cells use MVST’s 53.5Ah NMC cell technology, which has an energy density of 235Wh/kg. Customers may rely on MVST’s sixteen years of experience manufacturing lithium-ion batteries and its knowledge of 30,000 battery systems operating globally.
The ESS containers from Microvast provide an industry-leading 4.3MWh of energy density per container, long battery life of more than 10,000 cycles under typical operating circumstances, and simple transportation and installation enabling quick deployment at utility-size facilities. Microvast stands out due to the outstanding performance of its products, local production capabilities, and the team’s proficiency in managing complex utility projects. The ESS solutions from MVST provide significant advantages to its clients, including a cheaper total cost of ownership and anticipated Inflation Reduction Act benefits.
How will MVST progress go forward?
Microvast (MVST) anticipates starting production of ESS Containers in 2023, with exports starting in the second part of that year. The enthusiastic response that MVST has had from prospective clients in the United States says a lot. The ESS platform will be expanded internationally as part of MVST’s future objectives, utilizing its current facilities in Asia and Europe.