(Yicai Global) July 17 -- A wholly-owned subsidiary of Guangdong Dongfang Precision Science and Technology Co. [SHE:002611] is set to provide one of China's major auto firms with 5,500 power systems worth CNY950 million (USD140 million).

Beijing Pride Power System Technology Co. will sell the systems to Beiqi Foton Motor Co. [SHA:600166], Dongfang said today. The pair signed a purchase contract which will be valid until the end of this year.

The systems will be used in 3,000 passenger cars and 2,500 logistics and other special vehicles.

The deal will be considered a related transaction as BAIC Capital Co., a Foton affiliate, also holds a 6.42 percent stake in Dongfang, the statement said.

One of China's largest commercial vehicle makers, Foton sold 531,109 vehicles last year to bring in CNY46.5 billion in revenue.