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WKW Automotive Parts’s shares jumped to the highest in a month this morning after the Beijing-based firm said that its unit will supply car parts to Tesla‘s Shanghai Gigafactory.
The Chinese automotive company’s stock price [SHE: 002662] climbed by 9.9 percent to CNY3.10 (US 44 cents) this morning, the highest since early March.
WKW’s Wuxi-based unit has penned an agreement with Tesla to provide car exterior parts and supporting services to the latter from September to the end of 2025, the supplier said in a statement yesterday, without disclosing the deal’s financial details.
Tesla’s Shanghai plant, which manufactures the popular Model 3s for the China market, is the California-headquartered new energy vehicle maker’s first overseas factory.
Source: Yicai Global
