Ningbo Shenglong Automotive Powertrain System (SHA:603178) agreed to exclusively supply shaft drive motors to Fuyao Glass Industry Group (SHA:600660, HKG:3606), according to a Shanghai Stock Exchange disclosure on Tuesday.
The Chinese automotive parts maker expects to earn 800 million yuan from the sales of the product, which will be supplied for five years. Mass production will begin in 2025, the disclosure said.
Fuyao Glass' Hong Kong shares closed more than 1% higher.
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