(Yicai Global) Nov. 12 -- Shares in Shenzhen Capchem Technology jumped as much as 5 percent today after the Chinese manufacturer of electrolytes for new energy vehicle batteries said it has secured a purchase order worth USD367 million from a subsidiary of US auto giant General Motors.

Capchem’s share price [SHE:300037] closed up 1.3 percent at CNY132.01 (USD20.61). Earlier in the day it had reached CNY137.26.

Capchem will supply products to Ultium Cells, a EV battery maker set up by GM and South Korea’s LG Energy Solution, from now until the end of 2025, the Shenzhen-based firm said yesterday. No details were given on amounts or pricing.

The long-term order will help the company further expand its business in the North American market, it said.

Editor: Kim Taylor