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

Published: Aug 25, 2021 14:39

Save

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.

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.

new energy vehicle

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Tender Announcement for Negotiated Procurement of General Quasi-First-Grade Dry-Quenched Metallurgical Coke

11 hours ago

12 hours ago

[SMM News] Core Lithium's Finniss Restart Reaches a Key Milestone

On September 8, Core Lithium announced that its Finniss Lithium Project in Australia’s Northern Territory had produced its first spodumene concentrate from the recommissioned processing plant. The milestone was achieved around six months after the company made the final investment decision (FID) to restart Finniss in March 2026 and was in line with its target for the September quarter. Mining at the Grants open pit resumed in May, followed by the restart of crushing operations in August, while the processing plant is currently undergoing commissioning and optimisation. According to Core Lithium, upgrades to the processing plant are expected to improve mineral liberation and recovery rates while increasing processing capacity by approximately 20% to 1.2 million tonnes per annum. The company continues to target the first shipment of newly produced spodumene concentrate in the fourth quarter of 2026, while development of the BP33 underground mine is also progressing.

12 hours ago

[EV: BYD targets 20,000 flash-charging stations in China by end-2026, eyes AI energy solutions]

BYD said on Sept 8 that AI infrastructure requires large and stable power supply, making PV, energy storage and power stations key businesses, and AI energy solutions will be one of its priorities in the next phase. BYD's 10,000th flash-charging station was completed on Aug 28, setting records among Chinese automakers for the largest self-built charging network, the fastest build-out of 10,000 stations and the widest coverage. BYD plans to build 20,000 flash-charging stations in China by the end of 2026 and 6,000 overseas, expanding its flash-charging technology, products and ecosystem abroad.

12 hours ago