Microvast Holdings Ord Shs (NASDAQ:MVST) shares are trading lower by 8% at $9.52 Tuesday morning after the company reported second-quarter earnings results and issued FY21 sales guidance. Microvast reported $33.37 million in sales this quarter, representing a 53.8% increase over sales of $21.70 million in the same period last year.

"Our plans to add a total of 4 GWh of high-volume manufacturing capacity in our Clarksville, Tennessee and Huzhou, China facilities are moving forward," said Shane Smith, Microvast's Chief Operating Officer.

Microvast designs, develops and manufactures lithium-ion battery solutions. It is renowned for its cutting-edge cell technology and its vertical integration capabilities which extend from core battery chemistry (cathode, anode, electrolyte and separator) to battery packs.

Microvast has a 52-week high of $25.20 and a 52-week low of $7.83.