BAIYU Secures $60 Million Electric Lithium Battery Contract in the US Market.
BAIYU Holdings, Inc. (“BAIYU” or the “Company”) (Nasdaq: BYU), a leading B2B bulk commodity e-commerce platform and supply chain service provider, today announced that the Company, through its subsidiary BMYA New Energy Technology Inc. (“BNET”), has signed a US$60 million purchase and sales contract (the “Contract”) for electric lithium batteries with Feng’s Auto Parts Inc., a U.S.-based auto parts supplier. The Contract represents the official debut of the Company’s proprietary lithium battery brand into the U.S. market, advancing its strategic positioning in the new energy sector.
Pursuant to the Contract, Feng’s Auto Parts Inc. agrees to purchase 50,000 sets of electric lithium batteries with a unit price of $1,200 from BNET. Such batteries involved are available in 6V and 12V configurations, with a current capacity ranging from 100Ah to 300Ah. The Company anticipates that all deliveries will be completed by May 2025.
Ms. Ouyang Renmei, Chief Executive Officer of BAIYU Holdings, Inc., commented:
Securing such a significant contract not only reflects our substantial progress in expanding our presence in the energy storage and lithium battery industries, but also highlights the effectiveness of our strategy and the recognition of our industry strength by the U.S. market.
“We are eager to pursue further opportunities like this to enhance our brand reputation and ultimately deliver greater value to our shareholders.”
READ the latest Batteries News shaping the battery market
BAIYU Secures $60 Million Electric Lithium Battery Contract in the US Market. source
