(Yicai Global) Aug. 19 -- China's Sanhua Intelligent Controls, which counts BMW, General Motors, and Nio as some of its clients, will become the exclusive supplier of certain thermal management parts for China Evergrande's upcoming new energy vehicles, expecting to gain CNY2.5 billion (USD361.2 million) in sales revenue.

Sanhua's unit has received a notice from the Shenzhen-based property developer-turned-NEV-maker to provide the latter's Hengchi brand with valves and pumps, the Zhejiang province-based supplier said in a statement yesterday, without disclosing delivery details.

Evergrande, which is China's biggest real estate firm, said last year that it plans to become the world's largest NEV company in three to five years, with an annual output of 1 million units.

Early this month, the firm released its first six Hengchi models, including sedans, sport-utility vehicles, and multi-purpose vehicles. The first cars should be mass-produced by next year.

Sanhua's stock price [SHE:002050] climbed 0.87 percent to CNY21.93 (USD3.20) this morning.

Editor: Emmi Laine