(Yicai Global) July 7 -- Anhui Zhongding Sealing Parts will supply the heat management system for new energy vehicle powertrains of car giant Geely in batches in a project worth CNY1.9 billion (USD270 million), Zhongding said in a statement yesterday.

The Ningguo, Anhui province-based company’s shares [SHE:000887] were down 0.22 percent in mid-afternoon at CNY9.15 (USD1.30) after falling off an earlier CNY9.65 high.

Zhongding will furnish the cooling system for Geely’s NEV GHS2.0 hybrid, which Geely and Volvo Cars jointly developed, and which will also equip 17 other hybrid models including the Volvo Link, per the statement.

The project will be implemented by Zhongding’s Tristone Flowtech Group unit.

Tristone is a high-end supplier of vehicle heat management systems Zhongding formed in 2017 after spending EUR170 million (USD192.2 million) to buy out France-based Tristone Flowtech Holding. Tristone develops heat management systems for engines and batteries, per the statement.

Zhongding has actively expanded its NEV parts market in recent years. Its well-known domestic and overseas customers include Tesla, Jaguar Land Rover, and other carmakers, as well as lithium battery producers of the ilk of Contemporary Amperex Technology.

Editor: Ben Armour