Exide Technologies said Wednesday that under a new supply agreement it will supply batteries for Toyota Motor Corp.'s Highlander crossover sport utility vehicles in the U.S.
Exide shares jumped 42 cents, or 5.3 percent, in after-hours trading after finishing regular trading down 9 cents at $7.88.
The Highlander is a crossover sport utility vehicle. Production on the latest model started in October at a Toyota plant in Princeton, Ind., Exide said.
Under the agreement, which is with Toyota Motor Engineering & Manufacturing North America, Exide is providing up to 105,000 batteries each year for the SUVs. The batteries are made at Exide's plant in Bristol, Tenn.
Exide already supplies batteries for a number of vehicles that Toyota produces in North America.