Car parts group Strip Tinning Holdings PLC (AIM:STG) shares jumped 20% after the company confirmed a $780,000 order from a German Tier 1 automotive supplier.
The order is for C-sample components for a US-based autonomous vehicle programme backed by one of the world’s largest corporations.
The deal covers the Cell Contact System (CCS) used in battery pack modules. It follows a major nomination win first announced in June 2024, originally valued at £43 million. In December, price adjustments increased the expected lifetime value to £56.8 million, with potential to reach £60 million.
The US vehicle maker is currently testing on public roads in three cities. Strip Tinning sees this as a key step in expanding its presence in the electric and autonomous vehicle market.
The stock rose 5.47p to 32.98p.