China BAK to Supply Lithium-ion Batteries to FAW-Volkswagen Automotive Co., Ltd.

published: 2012-08-24 15:04 | editor: | category: News

China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, has announced that the Company has received a sample order to supply its lithium-ion batteries to FAW-Volkswagen Automotive Co., Ltd.("FAW-Volkswagen"), a major passenger sedan joint-venture of FAW Group Corporation and Volkswagen AG . 

China BAK plans to deliver three lithium-ion battery units to FAW-Volkswagen by the end of September 2012. FAW-Volkswagen will utilize the Company's lithium-ion battery units to power its electric cars and to test the performance and reliability of the battery units.

"FAW-Volkswagen is a leading passenger car manufacturer in China and we look forward to delivering our lithium-ion battery units to power its new electric car. Our cooperation with FAW-Volkswagen demonstrates our technological strength and market recognition. Upon successful testing, we expect to expand the scope of our cooperation and hope to receive additional orders," commented Mr. Xiangqian Li, CEO of China BAK.

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