(Yicai) June 17 -- Shares of Zhuhai CosMX Battery jumped after the Chinese company became the designated supplier of low-voltage lithium batteries of US automotive giant General Motors.

CosMX [SHA: 688772] closed 4 percent up at CNY14.20 (USD1.96) in Shanghai today, after earlier gaining as much as 7.6 percent.

GM selected CosMX to develop and supply specific 12-volt lithium batteries, the Zhuhai-based company said in a statement late yesterday.

Further details, such as the delivery timeline, supply volume, and sales price, will be agreed upon by the pair when signing the supply deal, CosMX noted.

CosMX is one of the world's major suppliers of consumer lithium-ion batteries, mainly used in laptops, tablets, smartphones, power tools, and drones. But in recent years, the company has ventured into the fields of high-end electric motorcycles, car starting batteries, and energy storage, according to its website.

Before the deal with GM, CosMX became the designated supplier of similar products for well-known overseas carmakers, including Jaguar Land Rover and Stellantis.

Editor: Futura Costaglione