Mar 9, 2022

(Yicai Global) March 9 -- Shares of Miracle Automation Engineering jumped after the Chinese maker of logistics automation equipment said it is partnering with e-commerce giant JD.Com to develop a national trading and services platform for power batteries. Miracle Automation [SHE: 002009] closed up 4.2 percent at CNY20.01 (USD3.17) today. JD.Com unit Jingdong Technology will work with Miracle Automation to build a technical services platform for businesses that includes battery recovery, recycling, and disassembly, the Jiangsu province-based automation firm said late yesterday. The pair signed the agreement recently. The platform will track information on retired batteries for upstream and downstream customers in the industrial chain, facilitate battery trading, and offer other services including rapid performance testing, maintenance and swapping, warehousing, logistics, and technical consulting, Miracle Automation added. Jingdong Technology will provide the digital smart tech needed to build the platform and run it, Miracle Automation said, noting that the platform’s goal is to become a center for business transactions, logistics, funds, and information of the battery recycling industry. Miracle Automation is mainly engaged in the design and building of automated production systems. With the auto industry shifting to electric vehicles, it expanded into the power battery recycling in recent years. The company, which already runs a recycling plant in Ganzhou, said last September that it will build a recycling plant with Chinese carmaker FAW Group. Editor: Futura Costaglione