(Yicai) Aug. 24 -- Shares of Jiangnan Mould and Plastic Technology rose after the Chinese supplier of auto exterior parts said it received an order from US electric carmaker Lucid Motors.

Jiangnan Mould [SHE: 000700] gained 2.9 percent to end at CNY6.72 (92 US cents) a share in Shenzhen today, after earlier jumping by as much as 5.7 percent.

Jiangnan Mould’s Mexican plant will supply Lucid with wheel claddings, door rocker trims, and power liftgates for its new vehicle model between next year and 2028, the Jiangsu province-based company announced yesterday.

The deal is expected to bring Jiangnan Mould about USD22 million in sales per year, based on Lucid producing 40,000 of the new car per year, the firm added, without disclosing any further details.

Founded in 2007 by former Tesla executives, Lucid rolled out the first batch of electric vehicles at its Casa Grande plant in Arizona in September 2021. By mid-decade, the factory is expected to reach an annual production capacity of 380,000 cars.

BMW and Tesla are among the Mexican plant’s clients, an executive at Jiangnan Mould said on the Shenzhen bourse’s interactive platform in late July, adding that the company plans to acquire more North American customers, including Stellantis.

Editor: Futura Costaglione