Chinese Li-battery pack supplier Pride Power has won a fresh order from domestic automaker BAIC BJEV to deliver CNY1.87 billion ($295.5 million) worth of automotive batteries over the next three months.
The order for 38,000 automotive battery packs strengthens ties between the companies— and comes as China accelerates production of electric vehicles, including under partnerships with foreign players.
Last year Pride Power, a wholly-owned subsidiary of China-based printing machine company Guangdong Dongfang Precision, signed battery supply deals with the BAIC Group and domestic battery manufacturer CATL.
Pride Power also agreed to jointly develop automotive battery tech with lithium oxides developer Pulead Technology Industry.
According to Dongfang Precision, Pride Power achieved a battery pack production capacity of 9GWh by the end of 2017— enabling the company to “fully support” BAIC’s aim of growing EV sales to around one million by 2022.
Last July, BAIC and its German joint venture partner, Daimler, said a new manufacturing plant would be built for “premium e-batteries” and EVs in Beijing.
Daimler and BAIC said the planned to jointly invest a total of CNY5bn in the production of Daimler’s Mercedes-Benz brand battery EVs at the plant, which will be operated by the firms’ Beijing Benz Automotive (BBAC) venture.