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Can MVST's Dive Into Electric Boats Create Waves in Its Top Line?
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Key Takeaways
MVST partners with Evoy to enter the electric boat market, targeting marine electrification growth.
The MV-I battery, offering 180 Wh/kg energy density, will power Evoy's leisure boat line.
MVST's 2024 revenues rose 23.9%, driven by a 41.6% increase in battery sales volume.
Microvast Holdings (MVST - Free Report) diversifies into the electric boat market, partnering with Evoy. This has positioned the company to tap into a burgeoning yet nascent market, enabling MVST to hop into the transportation electrification trend.
The electric boat market is currently anticipated to grow, seeing a CAGR of 10.5% from 2025 to 2030, driven by increasing emphasis on carbon emission reduction and promoting sustainable marine transport.
The collaboration with Evoy is MVST’s debut in the electric boat segment and marks the expansion of Evoy’s battery options. Microvast’s MV-I high-power battery, with its energy density up to 180 Wh/kg, is the standout product that will be integrated by Evoy into its leisure boat product line. The MV-I battery offers an array of environmental and technical advantages that sit well with the factors driving the current expanding electric boat market.
The partnership has enabled the company to mark its footprint within the leisure boats segment, thereby entering the European marine segment. Furthermore, MVST has exposed itself to the commercial vessel segment, a $160-billion market, wherein the need for fast-charging solutions can be extremely advantageous for cargo transport operations.
The expansion into the electric boat market aligns well with the company’s recent robust performance. Microvast’s revenues increased 23.9% year over year in 2024, primarily fueled by a 41.6% rise in sales volume from 1,139.6 MWh in 2023 to 1613.6 MWh in 2024.
This ability to boost sales volume, coupled with huge potential within the marine electrification market, indicates that the company’s strategic entry into the electric boat segment will act as a catalyst for continued and exponential revenue growth in the future.
MVST’s Price Performance, Valuation & Estimates
Microvast has skyrocketed 770.6% in the past year, significantly outperforming AirJoule Technologies Corporation (AIRJ - Free Report) and Yext (YEXT - Free Report) , and the industry as a whole. The industry has rallied 45.8%. AirJoule Technologies has declined 55.5%, while Yext has gained 66.7%.
1-Year Price Performance
Image Source: Zacks Investment Research
Even in the six-month time frame, the MVST stock gained 48.9% surpassing the industry’s 8.8% rise. AirJoule Technologies Corporation declined 38.6% while Yext gained 24.5%.
From a valuation standpoint, MVST trades at a forward price-to-earnings ratio of 18.93, below the industry’s 23.15. Microvast has a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MVST’s earnings is pegged at 13 cents per share, whereas it incurred a year-ago loss of 27 cents.
Image: Bigstock
Can MVST's Dive Into Electric Boats Create Waves in Its Top Line?
Key Takeaways
Microvast Holdings (MVST - Free Report) diversifies into the electric boat market, partnering with Evoy. This has positioned the company to tap into a burgeoning yet nascent market, enabling MVST to hop into the transportation electrification trend.
The electric boat market is currently anticipated to grow, seeing a CAGR of 10.5% from 2025 to 2030, driven by increasing emphasis on carbon emission reduction and promoting sustainable marine transport.
The collaboration with Evoy is MVST’s debut in the electric boat segment and marks the expansion of Evoy’s battery options. Microvast’s MV-I high-power battery, with its energy density up to 180 Wh/kg, is the standout product that will be integrated by Evoy into its leisure boat product line. The MV-I battery offers an array of environmental and technical advantages that sit well with the factors driving the current expanding electric boat market.
The partnership has enabled the company to mark its footprint within the leisure boats segment, thereby entering the European marine segment. Furthermore, MVST has exposed itself to the commercial vessel segment, a $160-billion market, wherein the need for fast-charging solutions can be extremely advantageous for cargo transport operations.
The expansion into the electric boat market aligns well with the company’s recent robust performance. Microvast’s revenues increased 23.9% year over year in 2024, primarily fueled by a 41.6% rise in sales volume from 1,139.6 MWh in 2023 to 1613.6 MWh in 2024.
This ability to boost sales volume, coupled with huge potential within the marine electrification market, indicates that the company’s strategic entry into the electric boat segment will act as a catalyst for continued and exponential revenue growth in the future.
MVST’s Price Performance, Valuation & Estimates
Microvast has skyrocketed 770.6% in the past year, significantly outperforming AirJoule Technologies Corporation (AIRJ - Free Report) and Yext (YEXT - Free Report) , and the industry as a whole. The industry has rallied 45.8%. AirJoule Technologies has declined 55.5%, while Yext has gained 66.7%.
1-Year Price Performance
Even in the six-month time frame, the MVST stock gained 48.9% surpassing the industry’s 8.8% rise. AirJoule Technologies Corporation declined 38.6% while Yext gained 24.5%.
From a valuation standpoint, MVST trades at a forward price-to-earnings ratio of 18.93, below the industry’s 23.15. Microvast has a Value Score of D.
The Zacks Consensus Estimate for MVST’s earnings is pegged at 13 cents per share, whereas it incurred a year-ago loss of 27 cents.
Microvast flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.