Battery components maker Sunrise New Energy announced on Wednesday that it received interest for its products from electric vehicle manufacturer Tesla Inc. This development led to a notable surge in Sunrise’s shares, which climbed by as much as 11% to reach USD 1.87 during morning trading.
Sunrise New Energy, based in China, operates through a joint venture that specializes in the production and distribution of graphite anode materials essential for lithium-ion batteries. Given that Tesla relies on lithium-ion batteries to power its electric vehicles, the interest in Sunrise’s products aligns with Tesla’s ongoing efforts to secure a robust supply chain for battery materials.
In addition to their existing operations, Sunrise’s joint venture is currently in the process of constructing a substantial manufacturing facility spanning 260,543 square meters in China’s Guizhou province.
Sunrise New Energy reported that it has received a request from Tesla’s battery raw materials team, seeking detailed information on their technology, manufacturing plans, and available production capacity for their battery components. This inquiry underscores Tesla’s commitment to sourcing high-quality battery materials to meet the growing demand for its electric vehicles.
Furthermore, Tesla has been actively engaging in supply agreements with various lithium companies, such as Liontown Resources and Core Lithium, as part of its strategy to secure a stable and diversified supply chain for the raw materials essential to its electric vehicle production.
As part of its ongoing research and development efforts, Sunrise New Energy disclosed that it had recently submitted applications for two new patents related to its hard carbon composite materials. This marks a notable addition to the company’s intellectual property portfolio, as it continues to innovate and contribute to the advancement of battery technology. To date, Sunrise has successfully obtained 25 patents, further solidifying its position in the battery component manufacturing sector.
