People'S Republic Of China was Microvast Holdings’s largest region in fiscal 2025, bringing in $416.84M of $1.28B (33%).
| Geography | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| People'S Republic Of China | — | $469.44M | $381.41M | $416.84M | |||
| Prc | $397.41M | — | — | — | |||
| Italy | $19.17M | $169.78M | $452.43M | $278.82M | |||
| France | — | $23.45M | $38.29M | $234.58M | |||
| India | $141.97M | $181.82M | $146.30M | $103.70M | |||
| Other European Countries | $28.26M | $59.85M | $72.44M | $122.43M | |||
| United States | $10.95M | $9.38M | $43.16M | $117.92M | |||
| Other Countries | — | — | — | — | |||
| United Kingdom | — | — | — | — | |||
| Russia | — | — | — | — | |||
| Other Asia Pacific Countries | $15.73M | $6.14M | $5.37M | $8.26M | |||
| Other | — | — | — | — | |||
| Total | $613.49M | $919.85M | $1.14B | $1.28B |
Microvast Holdings brought in $1.28B from its seven regions in fiscal 2025, the year ended December 31, 2025. That was up 12.6% from $1.14B in fiscal 2024. People'S Republic Of China was the largest at $416.84M (32.5%), ahead of Italy at $278.82M (21.7%) and France at $234.58M (18.3%). The other four regions brought in $352.31M combined.
Compared with fiscal 2024, France grew fastest, up 512.6% to $234.58M, while Italy fell the most, down 38.4% to $278.82M.
Microvast Holdings began breaking out People'S Republic Of China in fiscal 2023 and France in fiscal 2023. Microvast Holdings stopped reporting Prc as a separate region after fiscal 2022, when it brought in $397.41M.
Microvast Holdings (MVST) reports its revenue by geography. In fiscal 2025, People'S Republic Of China was its largest region, bringing in $416.84M (32.5% of the total), followed by Italy at $278.82M (21.7%).
People'S Republic Of China was Microvast Holdings' largest region in fiscal 2025, bringing in $416.84M, or 32.5% of the $1.28B total across its seven regions.
Among Microvast Holdings' regions that make up at least 2% of revenue, France grew fastest in fiscal 2025, up 512.6% from $38.29M to $234.58M.
Every figure comes from Microvast Holdings' annual financial filings, as reported. Each line keeps the name Microvast Holdings gives it, and years follow its fiscal calendar.
Microvast Holdings' revenue by geography goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.