China’s automaker BAIC BJEV is set to purchase 80,000 automotive batteries, worth a total of CNY3.7 billion ($541.6 million), from renewable battery system supplier Pride by the end of this year, according to Chinese media.
Sohu reported that Pride, a wholly-owned subsidiary of Guangdong Dongfang Precision Science & Technology, a China-based printing machine maker, has signed a strategic procurement contract for 2017 with the leading new energy vehicle manufacturer.
Dongfang Precision reportedly said the deal could guarantee the rapid growth of Pride’s automotive battery system sector and further enhance and consolidate the company’s competitive advantage.
According to a source quoted by Sohu, Pride’s growth ambitions over the next five years could include signing deals for batteries from other countries including Japan and South Korea – subject to possible changes in Chinese industrial policies.
