(Yicai Global) May 15 -- Shares in Suzhou Recodeal Interconnect System surged as much as 7.7 percent today after the Chinese connection systems maker said it will provide a major European auto manufacturer with a key part for the battery connection devices used in electric cars, paving the way for the company to access the international market.

Recodeal’s stock price [SHA:688800] was trading up 4.4 percent at CNY73.55 (USD10.50) as of 11.30 a.m. China time today. Earlier in the day it hit CNY75.90.

Recodeal will supply cell connection systems to an unnamed European automaker in a deal estimated to be worth CNY3 billion (USD434 million) in the first eight years, the Suzhou, eastern Jiangsu province-based company said yesterday. The product life cycle is 15 years and mass production will begin in 2026.

The two parties will pen a supply agreement at a later date to determine prices, order quantities and delivery times, added Recodeal, whose products are also used in medical equipment, communication devices, energy storage and other sectors.

Editor: Kim Taylor