Stafford-based Microvast saw its sales grow to $151.98 million in 2021, the battery company announced after markets closed March 29. That's up over 41% from its 2020 revenue of $107.52 million.
But Microvast's 2021 net loss was $206.48 million, increasing from a 2020 net loss of $33.63 million, due to a reduction in gross profit and higher operating expenses.
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