(Yicai Global) June 3 -- Aotecar New Energy Technology's shares rose higher today after its subsidiary signed a pricing agreement with an as-yet unnamed US electric vehicle maker.

Its shares [SHA:002239] traded at CNY2.03 At 10.30 a.m., 1.50 percent up from its May 31 closing price, after going as high as 4 percent earlier.

Aotecar's units Air International Shanghai and Delaware-based AIR International Thermal US will supply heating, ventilation and air conditioning products to both the US manufacturer's Shanghai and US production lines. the auto air-conditioner compressor provider, which is based in Nanjing, the capital of China's eastern Jiangsu province, said in a statement yesterday.

The announcement did not mention the name of the US company, citing a confidentiality agreement between the two. Aotecar earlier announced cooperation between its US subsidiary and the Palo Alto, California-based Tesla on Nov. 5, Yicai Global reported at the time.

EV giant Tesla has been building its first overseas Gigafactory in Shanghai since January. The plant is projected to make between 1,000 and 2,000 vehicles a week by the end of this year.

Editor: Ben Armour