(Yicai Global) Feb. 23 -- Guanghua Sci-Tech’s stock price soared after the Chinese battery recycler announced a tie-up on power battery management with Panasonic China and battery swap startup Aulton New Energy Automotive Technology.

After spiking as much 9.4 percent within minutes of the opening bell, Guanghua Sci-Tech [SHE: 002741] ended the today 6.5 percent up at CNY20.77 (USD3.29).

The three companies may cooperate on areas including battery assets operation and management, charging control strategy, phased gradient utilization, recycling and use of discarded battery resources, and related technical developments, Shantou-based Guanghua Sci-Tech said late yesterday, citing the deal signed the same day.

Guanghua Sci-Tech and Aulton are considering to create a platform for battery life cycle management, which Panasonic China may also invest in, the company added.

The partnership is important for the development of Guanghua Sci-Tech’s power battery resource recovery and reasonable use of discarded battery resources in China, it noted.

Shanghai-based Aulton offering battery swapping for electric cars in 30 Chinese cities, and counts Chinese carmaker Nio as its main investor.

Editor: Futura Costaglione