(Yicai Global) Jan. 5 -- Shares in Everwin Precision Technology surged by as much as 13 percent today as the Chinese electric vehicle battery parts supplier announced plans to build three plants in different locations across the country to expand capacity and get closer to its main customers, including power battery manufacturing giant Contemporary Amperex Technology.

Everwin Precision's stock [SHE:300115] closed up 8.74 percent at CNY30.62 (USD4.74), a three-year high. It had earlier in the day reached CNY31.81.

The Shenzhen-based firm will spend CNY1.2 billion (USD185.6 million) to build a production line in Yibin, southwestern Sichuan province, CNY500 million on a plant in Changzhou, southeastern Jiangsu province and CNY300 million on a base in Ningde, southeastern Fujian province, the company said yesterday.

The factory in Ningde, which is the same city where CATL is based and which will use a rented space, should be up and running in six months, it said. The Changzhou plant, also leased, should be finished in 18 months. The Yibin base, which it will build itself, will take two years to be completed. No further details about output volumes, product specifications and clients were given.

The company already has a production line in Shanghai that supplies the US electric car giant Tesla’s China gigafactory. It is also provides electronic component parts to US tech giant Apple and South Korean electronics firm Samsung.

Editor: Kim Taylor