(Yicai) Oct. 15 -- Car parts supplier Chervon Auto Precision Technology said it has received two orders for new energy vehicle parts worth a total of CNY632 million (USD88.8 million) from a Chinese and a European customer.

Chervon's plants in China and Hungary will provide electric vehicle power supply cases to a leading Chinese NEV parts supplier for four years starting next year, with the products destined for use in the global NEV development platform of a major European car brand, the Nanjing-based seller said yesterday. The value of the deal is CNY446 million.

Chervon also said it recently received a supply notice from a well-known European auto brand for car-mounted power inverter cases. Its Hungarian plant will handle the four-year order starting in 2026. The four-year supply deal is worth CNY186 million.

The company did not disclose the buyers’ names because of confidentiality agreements.

Chervon is transforming its production lines to manufacture products for electric cars, such as electric motors, electric controllers, smart driving equipment cases, and battery trays. It counts Tesla, BYD, and Seres, a brand that uses Huawei Technologies' intelligent driving technologies, among its most famous clients.

Chervon's shares [SHA: 603982] closed down 1.1 percent at CNY8.20 (USD1.15) in Shanghai today, after earlier gaining by as much as 1.9 percent.

Editor: Futura Costaglione