(Yicai Global) Dec. 16 -- China’s Kedali Industry has received another order from French power battery maker Automotive Cells for lithium battery parts, following one at the end of last month.

Automotive Cells will buy an additional 200 million prismatic lithium battery cases and covers between 2024 and 2030, Shenzhen-based Kedali said in a statement late yesterday, adding to the 100 million specified in an agreement signed on Nov. 30. The product models and specifications differ between the two orders, Kedali said.

The latest deal will help deepen the partnership between the two companies, said Kedali, which also counts Contemporary Amperex Technology, BYD, Panasonic, LG, Northvolt, and Faurecia as clients. It also marks the positive progress made by the firm’s products internationally and will help to further consolidate its core overseas competitiveness, Kedali added.

Shares of Kedali [SHE: 002850] closed down 0.3 percent at CNY125.67 (USD18.20) apiece today, after earlier dropping by as much as 3.9 percent. The broader Shenzhen market fell 0.6 percent. Kedali’s stock has gained about 30 percent since the company announced the first order from Automotive Cells on Dec. 1.

Automotive Cells is a well-known European developer of power battery cells and modules. Stellantis, Mercedes-Benz and Total Energies each own a third of the firm. Its annual battery production capacity will increase to at least 120 gigawatt-hours by 2030, under the company’s expansion plan.

Editor: Futura Costaglione