(Yicai) March 18 -- Shares of Lead Intelligent Equipment surged after the supplier to Contemporary Amperex Technology said that the firm has scored the largest order of lithium battery manufacturing equipment for any Chinese company ever in the United States.

The stock price of the major global maker of equipment to produce batteries [SHE: 300450] jumped by 12 percent to close at CNY25.73 (USD4).

The company has penned a cooperation agreement with American Battery Factory to become the exclusive equipment supplier for the first phase of the latter's upcoming battery factory in Arizona, the Wuxi-based enterprise announced today without disclosing the contract sum nor the timeline. 

Utah-headquartered ABF specializes in the production of lithium iron phosphate batteries. The firm is building a gigafactory in Tucson, Arizona, expecting to kick off operations by 2025.

The cooperation shows how clients highly recognize the strength of Lead's products, it said. The company has so far provided global customers with more than 120 complete production lines with over two terawatt-hours of batteries. 

In 2022, Lead established subsidiaries in France, the Netherlands, and Turkey, and acquired Germany's Ontec to accelerate its localization process in Europe.

Editor: Emmi Laine