(Yicai) Jan. 16 -- Changyuandonggu Industry's shares surged by their daily trading limit after the Chinese producer of diesel engine parts was named the designated supplier for a well-known domestic manufacturer of flying cars.

Changyuandonggu [SHA: 603950] soared 10 percent to close at CNY16.98 (USD2.39) a share in Shanghai today.

The Xiangyang-based firm will supply the client with electric drive body cases and other parts, it said late yesterday. Product development, testing, verification, production, and deliveries will be completed in a period agreed between the two parties, the firm noted.

The project should start mass production in the second half of this year, Changyuandonggu said, It did not specify the flying car model, supply schedule, product unit prices and quantity, but said these will be determined later.

Changyuandonggu mainly supplies diesel engine structural parts to carmakers, but has been expanding business to clients in the new energy vehicle sector in recent years. Last December, it became the designated engine parts supplier for a range-extended model from Huawei Technologies' car-making partner Seres Group.

Many Chinese firms are advancing in the field of flying vehicles. NEV startup Xpeng Motors said earlier this month that it plans to start production of its aerial car in the fourth quarter of next year, while GAC Group, owner of the Trumpchi, Aion, and Hycan brands, debuted its first flying auto, the Gove, last June. 

Editor: Martin Kadiev