09:03 AM EDT, 08/29/2024 (MT Newswires) -- Baiyu Holdings ( BYU ) said Thursday that its BMYA New Energy Technology subsidiary has been awarded a $60 million purchase and sales contract for electric lithium batteries with US-based auto parts supplier Feng's Auto Parts.

The company said the contract marks the debut of its lithium battery brand in the US market.

Under the contract, Feng's Auto Parts will buy 50,000 sets of electric lithium batteries from BMYA New Energy Technology for a unit price of $1,200, with all deliveries to be completed by May 2025, Baiyu ( BYU ) said.

Shares of the company were down 3.4% in recent premarket activity.

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