Shenglong Hits Limit up on Becoming Supplier to Auto Parts Maker BorgWarner for New NEV Model – Yicai Global

June 14, 2022 by No Comments

(Yicai Global) June 14 — Shares in Ningbo Shenglong Automotive Powertrain System gained by the exchange-imposed limit today after the Chinese car parts manufacturer said it has been chosen as official supplier to the Chinese affiliate of the US’ BorgWarner Automotive Components, which is developing the electric drives for the latest new energy vehicle model by a well-known Chinese carmaker.

Shenglong’s share price [SHA:603178] closed up 10 percent at CNY12.86 (USD1.90) today.

Shenglong’s electronic oil pumps will be a core part of BorgWarner’s 800V high-voltage, pure-electric, three-in-one electric drive project for a new all-electric sports utility model by a leading Chinese NEV startup, the Ningbo, eastern Zhejiang province-based company said yesterday.

Deliveries to Wuhan, central Hubei province-based BorgWarner are due to start in the third quarter, and mass production of the new car model should begin in 2023, Shenglong said. The project should last more than five years. No figures were given and the name of the NEV maker and new model were not disclosed due to confidentiality reasons.

The electronic oil pump is a new product and sales only make up a small part of the firm’s total, Shenglong said. Its main earners are fuel oil engines and transmission oil pumps.

Editor: Kim Taylor

Source: https://www.yicaiglobal.com/news/shenglong-hits-limit-up-on-becoming-supplier-to-auto-parts-maker-borgwarner-for-new-nev-model

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