(Yicai Global) Nov. 9 -- Battery giant Contemporary Amperex Technology will become a strategic investor in Hozon Auto by participating in the Chinese electric car startup’s Series D2 funding round after the pair signed a wide-ranging partnership agreement.

The two parties will cooperate on the research and development of technologies and work together to guarantee supply chains, the Zhejiang province-based carmaker said in a statement released yesterday on its WeChat account.

The partnership will speed up Hozon’s strategic positioning in the new energy vehicle sector, it said, without disclosing the amount of the investment or the corresponding stake.

Hozon closed a CNY4 billion (USD626 million) Series D1 financing round led by 360 Security Technology on Oct. 27. The cybersecurity giant led the fundraiser with a CNY2 billion investment. Other participants included CCB International, Citic Securities Investment, GF Venture Capital, and the new energy industrial fund under Shenwan Hongyuan Hong Kong.

360 Security’s total investment in Hozon totals CNY2.9 billion, as the Beijing-based company also bought a 10.7 percent stake in the carmaker from existing shareholders for CNY900 million (USD141 million) on Oct. 18.

Founded in 2014, Hozon unveiled its first mass-produced vehicle in 2018. Hozon delivered 8,107 vehicles in October, up 294 percent from a year earlier, setting a new record for monthly deliveries for the ninth consecutive month. It ranked second among EV startups for delivered units.

Editor: Futura Costaglione