(Yicai Global) Sept. 13 -- Wuxi Lead Intelligent Equipment and its wholly-owned unit will collaborate to supply lithium battery production equipment to leading Chinese new-energy battery manufacturer, Contemporary Amperex Technology.
The company and its subsidiary Zhuhai Titan New Power Electronics successively received notices of bid acceptance from their key client CATL, the Wuxi, Jiangsu province-based new-energy equipment intelligent production line developer said in a statement yesterday.
Ningde, Fujian province-headquartered CATL will use the products to produce and process new-energy batteries, per the statement, but the companies have not as yet signed a purchase agreement.
CATL bought CNY616 million (USD 90 million) worth of products from Lead Intelligent Equipment last year, making up 28.32 percent of its total sales, per the statement.
CATL is China's largest traction battery developer in China, and its production capacity has steadily grown, driven by the booming new-energy vehicle industry.
Several A-share listed companies, including Han's Laser Technology Industry Group, Shenzhen Zhuoyu Automation Technology and Shenzhen Haoneng Technology, have announced successful bids to supply traction battery production equipment to CATL in recent months.
Editor: Ben Armour