China BAK Battery signs deal to supply lithium-ion battery units to Chery Automobile

BAK LOGO

China BAK Battery signs deal to supply lithium-ion battery units to Chery Automobile

Greentech Lead America: China BAK Battery, a manufacturer
of lithium-based battery cells, it has signed a new contract to supply 1,000
lithium-ion battery units to Chery Automobile.

Chery will utilize these high-power batteries in its
Ruilin M1 electric cars, one of the five electric vehicle models that have been
approved for government use since early this year.

The new contract is in addition to China BAK’s contract
with Chery to supply 100 high-power battery units, which are on schedule to be
delivered by June 2012.

“We believe that this additional order from Chery,
and their anticipated further orders and cooperation, further underline our
ability to deliver high-quality battery products and lead the development of
China’s emerging electric vehicle battery market. Likewise, we continue to
expect additional orders from other domestic customers for our lithium-ion
high-power batteries to power electric vehicles in China in 2012,” said
Xiangqian Li, CEO of China BAK.

Chery and China BAK are planning to establish a long-term
cooperation program in the electric vehicles industry.

Recently, China BAK received a new contract to supply its
high-power lithium-ion batteries to a major Korean electric motor manufacturer.

[email protected]