(Yicai Global) July 10 -- Shares in servo drive producer Shenzhen V&T Technologies hit the exchange imposed limit of 10 percent today on the news that it is to partner with battery maker Huizhou BYD Battery to ensure the supply of core components and boost its positioning in the new energy vehicle market.

V&T’s shares [SHE:300484] closed up 7.81 percent at CNY14.77 (USD2.10), slightly down for their earlier gains.

BYD Battery, which is the battery-making unit of Chinese carmaking giant BYD, will be a priority supplier of components, such as relays and capacitors, for V&T’s electrical drives, controllers and batteries, according to the agreement signed by the two parties yesterday.

Huizhou, Guangdong province-based BYD Battery will also provide V&T with technical support and promote V&T’s electric controllers and other products together with its own automobile accessories, the statement, which is valid for three years, said.

The pair will collaborate on technology, jointly develop customized products for special use and optimize product design in order to improve the market competitiveness of their electrical accessories, the announcement added.

BYD Battery engages in the research, development and production of high-voltage relays, capacitors, circuit breakers and other electrical accessories in addition to batteries, the statement said.

Editor: Kim Taylor