(Yicai) Feb. 22 -- The German subsidiary of Chinese intelligent equipment manufacturer SK Automation Technology has received a EUR79.8 million (USD86.5 million) order for industrial automated production equipment.

SK Automation’s German unit received the order from an existing customer, the Shanghai-based parent company announced yesterday, without revealing the name of the partner and the specifications of the products.

The rapid growth of the new energy vehicle market provided great opportunities for the closing of the deal, which will positively impact SK Automation's operating results for this and next year, the firm added.

SK Automation provided automated equipment solutions for clients in the NEV industry. For example, it supplied battery pack production lines to Volkswagen’s Skoda plant in Czech Republic, as well as Volkswagen's and BMW's joint ventures in China, according to SK Automation's 2022 earnings report.

Shares of SK Automation [SHA: 688155] closed 1.5 percent down at CNY56.36 (USD7.84) in Shanghai today. The Shanghai Composite Index rose 1.3 percent.

Editor: Futura Costaglione