Miracle Automation Signed an NEV Supply Project of 106 Million Yuan with BYD

SHANGHAI, Aug 25 (SMM) - Miracle Automation announced on August 24 that the company recently received a notice confirming it as the supplier for the “first-line assembly line" of Changsha BYD Automobile Co., Ltd. (hereinafter referred to as "Changsha BYD"). The project value is RMB 106 million, and the delivery date is March 31, 2022.

Changsha BYD is a wholly-owned subsidiary of BYD Group and one of the most strategically significant new energy vehicle production bases of BYD Group. In 2021, Miracle Automation has signed similar business orders valued a total of 12.73 million yuan with BYD Group subsidiaries.

According Miracle Automation, it still has a large number of new energy vehicle projects under negotiation. About 60%-80% of its original production lines are expected to be transformed to meet the production requirements of NEVs. At the same time, the company will give full play to its advantages in the industrial Internet to help auto companies improve the intelligence of their production lines.

Benefiting from the development of the domestic new energy automobile industry, the strong demand for power battery materials drove the prices of cobalt and lithium to rise. Miracle Golden Tiger Cobalt and Miracle Lithium, the core subsidiaries of Miracle Automation’s power battery recycling and utilisation business, achieved a significant increase in the profits in H1 2021, and the value of new orders totalled 545 million yuan.