(Yicai) Feb. 13 -- Yinlun Machinery, a Chinese manufacturer of heat exchangers, has secured a contract to supply components for an electric vehicle model from a prominent North American automaker, with an expected value of USD61.3 million.

Yinlun's Monterrey, Mexico facility will begin supplying radiator products to the client in 2027, the Zhejiang province-based firm announced yesterday. The client's name was not disclosed due to a confidentiality agreement.

The contract represents a significant milestone in Yinlun's business expansion efforts and demonstrates the customer's confidence in both the Chinese company's technical expertise and international operations, the firm stated without providing further details of the agreement.

Yinlun ranks among China's leading suppliers of vehicle heat management system components and currently supplies parts to Tesla's local gigafactory through its Shanghai plant. The company expanded its global footprint in 2023 by launching operations in both Poland and Mexico. Yinlun generated over one-fifth of its revenue from overseas markets in 2023, with North American customers including General Motors and Ford Motor, according to its annual report.

Yinlun's shares [SHE: 002126] declined 1.8 percent to CNY22.59 (USD3.10) today, following yesterday's historic high of CNY23.58.

Editor: Emmi Laine