Huada Technology deepens its new energy vehicle business layout

Huada Technology (603358.SH) successfully acquired 44% of Jiangsu Hengyi’s equity in January this year, further deepening its presence in the new energy vehicle business. This move has expanded Huada Technology’s downstream customers to new energy vehicle companies such as BAIC, GAC, Xiaomi, NIO, Xpeng, and Tesla. In addition, Jiangsu Hengyi has established cooperative relationships with new energy battery companies such as CATL, SAIC, AVIC Lithium Battery, Honeycomb, and EVE Energy.