(Yicai Global) Jan. 4 -- Sanhua Intelligent Controls, a Chinese maker of thermal management system parts for vehicles, said a unit has become the exclusive supplier of battery cooling pipes worth an estimated CNY1.9 billion (USD276 million) to BMW China.

Sanhua Automotive Components will supply the products to BMW China for use in the German automaker’s electric vehicles, its Zhejiang province-based parent company said today, without disclosing any product specifications or scheduling.

The unit has been actively developing in the new energy vehicle market, with well-known clients such as Tesla, Volkswagen, Mercedes-Benz, Toyota, Volvo, and Chinese NEV startup Nio. It began to supply thermal management parts to BMW’s EV development platform in November 2018.

The latest deal will not affect Sanhua Intelligent’s financial results this year, but will help to boost earnings in future years, and have a positive impact on the company’s expansion into the global auto market, it said.

The company’s shares [SHE: 002050] fell 1.1 percent today to finish at CNY20.60 (USD2.99) apiece, after earlier dropping by as much as 3.9 percent. The wider Shenzhen market edged 0.2 percent lower.

Editor: Futura Costaglione