Sunpow Battery Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.
RSS feeds


Yahoo! 
MSN 
AOL 
Netvibes 
Bloglines 


Search
 
 

Display results as :
 


Rechercher Advanced Search

Battery Statics
Ads

BAK Receives $7.5 million Subsidy for High Power Lithium Battery Project

Go down

BAK Receives $7.5 million Subsidy for High Power Lithium Battery Project Empty BAK Receives $7.5 million Subsidy for High Power Lithium Battery Project

Post  Admin Tue Dec 07, 2010 5:58 am

China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company's wholly-owned subsidiary, BAK International (Tianjin) Limited ("BAK Tianjin"), received a subsidy of approximately $7.5 million for its automated high power lithium battery project from the National Development and Reform Commission (NDRC) and Ministry of Industry and Information Technology (MIIT).

The Company's automated high power lithium battery project was previously selected as a key project of the PRC's National High Technology Research and Development Program, or "863 Program". BAK Tianjin focuses on the research and development, manufacturing and distribution of advanced high-power lithium battery cells for use in light electric vehicles (EV) and hybrid electric vehicles.

"We have received numerous recognition and research grants for our automated high power lithium battery project. We believe the subsidy from NDRC and MIIT further demonstrates the government's continued support and confidence in our ability to supply high-quality products to the EV industry," commented Mr. Xiangqian Li, China BAK's Chairman and Chief Executive Officer. "We will utilize the grant to expand our production output and enhance product quality to generate additional revenue and strengthen our market position. We firmly believe that with our wealth of experience and advanced technological expertise, we will be successful in continuing to implement our turnaround strategy, increase our market share and deliver high-quality products to our customers."
Admin
Admin
Admin

Posts : 2264
Points : 6825
Reputation : 0
Join date : 2009-11-29

http://www.sunpowtech.com

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum