(Yicai Global) July 12 -- Shares of Chinese auto suppliers jumped after Tesla said on WeChat yesterday it will start selling its electric all-terrain vehicle called Cyberquad for Kids in China.

Weida Machinery [SHE: 002026] closed by the exchange-imposed limited of 10 percent higher at CNY11.09 (USD1.50). Two other suspects surged even though they did not disclose direct links to the novel product in China. Chaoda Equipment [SHE: 301186] moved up 8.3 percent to CNY50.5 and Wencan Group [SHA: 603348] rose 6.5 percent to close at about CNY48.

A subsidiary of Weida supplies battery packs and controllers to the ATV but the business provides a small portion of its total revenue and there is no direct collaboration with Tesla, the Shandong province-based firm said in a statement on the investor platform of the Shenzhen bourse.

Nantong-based Chaoda Equipment provides Tesla with molds and automated tools for Tesla’s new energy vehicles and Guangdong province-based Wencan makes structural parts made of aluminum alloys for the California-based firm.

Sales of Cyberquad for Kids, priced at CNY13,000 (USD1,900), started online abroad in 2021. The maximum speed of the vehicle is 10 miles or around 16 kilometers per hour and the range is about 15 miles.

Even these small Teslas have had their share of problems as last year, Radio Flyer, the manufacturer of Cyberquad for Kids, recalled products after their failure to meet the federal safety standards for youth ATVs in the States.

Editor: Emmi Laine