(Yicai Global) March 13 -- China's Automotive Trim Group is expected to get CNY780 million (USD113.1 million) by supplying car door panels to Volkswagen's Chinese venture and a domestic new energy vehicle developer.

Automotive Trim will make passenger vehicle door panels for a famous domestic NEV vendor, the Changshu-based firm said in a statement yesterday, without disclosing the name of the buyer. Moreover, it will become a designated supplier of such parts for Volkswagen Anhui Automotive.

The deal with the Chinese car brand is expected to start delivering next year and bring Automotive Trim CNY380 million of revenue in total. Deliveries to the German car marque's Anhui project should begin in 2025 and result in CNY400 million of revenue.

The two agreements mark a new breakthrough for Automotive Trim in developing NEV clients, it said, adding that this should optimize the firm's layout of customers ordering passenger vehicle interior parts.

Formed in 2017, Volkswagen Anhui is a joint venture between Volkswagen China and Hefei-based JAC Automobile Group. The German marque has three-quarters of the electric car JV's equity and the Chinese partner owns the remainder. In December, the CNY23.1 billion (USD3.4 billion) plant churned out its first model and mass production should begin this year. The JV had already 260 garnered local suppliers as of December, according to Xinhua News Agency.

The client addition failed to boost Automotive Trim's share price [SHA: 603035] as it closed 0.4 percent lower at CNY18.65 (USD2.70).

Editor: Emmi Laine, Xiao Yi