BAIYU Holdings Secures $60 Million U.S. Contract for Lithium Batteries

BAIYU Holdings has announced a significant development through its subsidiary, BMYA New Energy Technology, securing a $60 million purchase and sales contract for electric lithium batteries with Feng's Auto Parts, a U.S. auto parts supplier. This deal marks the entry of BAIYU's proprietary lithium battery brand into the U.S. market, enhancing its position in the new energy sector.

Under the terms of the contract, Feng's Auto Parts will purchase 50,000 sets of lithium batteries from BMYA, priced at $1,200 each. The batteries will be offered in 6V and 12V configurations with capacities ranging from 100Ah to 300Ah. The delivery of these batteries is expected to be completed by May 2025.

Ms. Ouyang Renmei, CEO of BAIYU Holdings, noted that the contract underscores the company’s progress in expanding its footprint in the energy storage and lithium battery markets. She highlighted the contract as evidence of the effectiveness of BAIYU’s strategy and its recognition in the U.S. market, and expressed enthusiasm for pursuing further opportunities to enhance brand reputation and deliver value to shareholders.