Advanced Battery Technologies Renews Suspended Orders

April 19, 2005 by Jeff Shepard

Advanced Battery Technologies Inc. (ABAT, Harbin, China), a manufacturer of rechargeable polymer lithium-ion (PLI) batteries used in portable consumer products, announced that Aiyingsi Co. Ltd. (Taiwan), a developer of electric vehicles, has renewed its purchase order for 60,000 3.7 V, 200 Ah PLI batteries with a total contract value of $21 million dollars. The renewed order has a one-year term with shipments to begin later this year. The contract had been suspended pending the completion of ABAT's new factory in China, which resumed operation on April 12, 2005.

Aiyingsi's most recent development is a two-seat small car, slightly larger than a motorcycle, that is designed to be driven into a freight or passenger elevator in a commercial or residential building so that the vehicle can be parked in the basement, on the roof, or in another suitable location in the building.

"We're very pleased to renew our order with the Aiyingsi Group. With our newly built factory and expanded production lines, we're now positioned to serve large-volume customers," commented ABAT Chairman Zhiguo Fu.