(Yicai) Jan. 31 -- Zhejiang Vie Science & Technology's shares surged by their daily trading limit after the supplier of auto chassis control modules said its subsidiary was named the designated parts maker for a well-known Chinese maker of flying cars.

Zhejiang Vie [SHE: 002590] soared 10 percent to close at CNY11.07 (USD1.65) a share today. The broader Shenzhen market fell 2 percent.

Anhui Vie Auto Parts will develop and supply front subframe assembly products to the client, Zhejiang Vie announced late yesterday, without disclosing the customer's name due to a confidentiality agreement.

Supply times, prices, and quantities will be determined after Anhui Vie and the client ink a formal deal, its Shaoxing-based parent firm noted. The unit will complete the development, testing and verification, manufacturing preparation, production, and delivery of the parts within the time required by the client, it added.

Many Chinese firms are advancing in the field of flying vehicles. New energy vehicle 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 automaker GAC Group debuted its first flying auto, the Gove, last June. 

Editor: Martin Kadiev