(Yicai) Dec. 18 -- Shares of Jiangnan Mould and Plastic Technology rose after the Chinese supplier of exterior auto parts said the plant of its subsidiary in Mexico has received an order for new energy vehicle parts from a leading overseas luxury automaker.

Jiangnan Mould [SHE: 000700] jumped 2.9 percent to CNY7.47 (USD1.03) a share as of 2 p.m. in Shenzhen today, after surging by as much as 5.1 percent in the morning trading session.

The Mexican unit will be the designated supplier for a new electric sport utility vehicle model and a new electric sedan model for the client, the Jiangyin-based parent company said late yesterday. The two models are expected to start production in February 2027, with a likely seven-year lifespan, it added.

The unit is expected to supply 260,600 parts worth CNY1.2 billion (USD166.8 million) for the SUV and 381,400 parts worth CNY1.5 billion (USD207.7 million) for the sedan over the models' lifespan, Jiangnan Mould noted, without disclosing the name of the carmaker.

The deal shows the recognition of the manufacturing capabilities and product quality assurance of Jiangnan Mould's Mexican factory by a leading automaker, the company said. It will likely positively impact the firm's future earnings performance and bring the plant greater market opportunities in North America, it added.

For the first six months of this year, revenue from overseas markets accounted for 25 percent of Jiangnan Mould's total income. The Mexican plant counts BMW and Tesla as clients and is striving to attract more customers in the North American region, including Stellantis, an executive at Jiangnan Mould said in July last year.

Editor: Martin Kadiev