(Yicai Global) Sept. 20 -- Eve Energy has agreed to supply power batteries to a new electric car brand owned by Dayun Automobile, a manufacturer of heavy-duty trucks.

Eve Energy will provide cylindrical power batteries with a standard diameter of 46 millimeters for the new energy passenger and commercial vehicles of Yuanhang Auto, the Guangzhou-based battery maker announced today. No financial details were provided.

Dayun Auto launched Yuanhang Auto at the Chengdu Motor Show last month, debuting two luxury sedans, two luxury sport utility vehicles, and a smart pure-electric vehicle platform that uses tech from e-commerce giant Alibaba Group Holding and telecoms titan Huawei Technologies.

Eve Energy and Dayun Auto will also cooperate on technologies to reduce the costs of producing electric vehicles and enhancing their quality, the statement added.

After jumping as much as 4.9 percent earlier today, Eve Energy’s shares [SHE: 300014] ended 1.3 percent higher at CNY85.18 (USD12.14) apiece. The benchmark Shenzhen Component Index rose 0.7 percent.

Dayun Auto’s sales of heavy-duty trucks sank 15 percent last year to about 30,350 because of slowing economic growth amid Covid-19, ranking the firm eighth in the Chinese market, according to data from the China Association of Automobile Manufacturers. Its first-half sales slumped 37 percent from a year ago to 10,900, ranking it sixth domestically.

Editor: Futura Costaglione