Hubei Wanrun New Energy Technology (SHA:688275) signed a five-year agreement to supply 1.3 million tons of lithium iron phosphate (LFP) materials to Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL.
CATL promises at least 80% of monthly contracted volumes during the 2025-2030 period, according to a Tuesday filing with the Shanghai bourse.
The partnership aims to advance high-density LFP battery technology and expand market reach.
Shares of the battery material supplier rose 4% in recent trade.
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