Hong Kong Highpower Technology Announces Completion Of Lithium-Ion Production Facility Build-Out

Hong Kong Highpower Technology, Inc., a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and Lithium-ion (Li-ion) batteries and related products, announced that it has completed the construction and build-out of two production lines for the development and manufacturing of a range of Li-ion rechargeable batteries and products. The new Li-ion production facilities are part of the company’s main Ni-MH factory located in Shenzhen, Guangdong Province, PRC.

Chairman and Chief Executive Officer George Pan stated, "As previously announced, we have already commenced sample production of Li-ion batteries and have begun receiving purchase orders. We expect the ramp-up of our Li-ion production to continue through the first half of 2009 as customers execute product and manufacturing qualifications for our new product suite. We are currently producing approximately 100,000 Li-ion units per month. With continued production ramping expected through the end of this year, we are targeting an average monthly production rate of 250,000 Li-ion units by end of year 2008."

Hong Kong Highpower continues with construction planning for a new manufacturing facility in Huizhou, Guangdong Province, PRC, which will eventually house all Ni-MH and Li-ion production for the company. The new industrial park’s production capacity will be approximately three times that of the current Shenzhen facility.