Advanced Battery Technologies Announces New Orders of Electric Vehicles During Shanghai International Bicycle Expo
07 Mayo 2010 - 7:37AM
Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading
developer, manufacturer and distributor of rechargeable Polymer
Lithium-Ion (PLI) batteries as well as a manufacturer of electric
vehicles, today announced that it obtained approximately $1.7
million in new orders for electric vehicles during the
International Bicycle Expo held in Shanghai from April 27 to 30,
2010.
The company received recognition for its products' superior
performance and unique appearance design. During the Expo, the
company signed sales contracts totaling approximately $1.7 million
(or 2,500 electric scooters) with five customers from Europe,
including Germany, Denmark, and Netherlands. The company will
deliver lithium ion LiFePO4 battery-powered scooters to these
European customers within the next twelve months. The management
expects to receive additional orders from these new customers after
they become more familiar with the quality of our products.
Mr. Zhiguo Fu, CEO of ABAT, stated, "The new orders demonstrate
management's significant progress in serving overseas customers
after our previously announced product promotion conference held at
the end of March. We will continue to promote our products to
overseas distributors by providing state of the art products
capable of meeting the diverse demands of their
customers."
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (Nasdaq:ABAT), founded in
September 2002, develops, manufactures and distributes rechargeable
Polymer Lithium-Ion (PLI) batteries. The Company's products include
rechargeable PLI batteries for electric automobiles, motorcycles,
mine-use lamps, notebook computers, walkie-talkies and other
electronic devices. ABAT's batteries combine high-energy chemistry
with state-of-the-art polymer technology to overcome many of the
shortcomings associated with other types of rechargeable batteries.
Early in 2009, the Company acquired Wuxi Angell Autocycle Co.
Ltd., an electric vehicle business, and renamed it Wuxi Zhongqiang
Autocycle Co., Ltd. ("Wuxi ZQ"). The Company has a New York
office, with its executive offices and manufacturing facilities in
China.
CONTACT: Rubenstein Investor Relations
Investor Relations Contact:
Tim Clemensen
(212) 843-9337
TClemensen@RubensteinIR.com
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