Exhibit 99.1 Microvast Reports 2023 Financial Results • Revenue increased 49.9% year over year to $306.6 million in FY 2023 • Record quarterly revenue of $104.6 million, up 61.4% year over year in Q4 2023 • Gross margin increased from 4.4% to 18.7%, a 14.3 percentage point improvement year over year, with Q4 2023 gross margin of 22.0% compared to 3.4% in Q4 2022 STAFFORD, Texas, USA, April 1, 2024 – Microvast Holdings, Inc. (NASDAQ:MVST) (“Microvast” or the “Company”), a technology innovator that designs, d ...