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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.