China BAK Battery, Inc. ("China BAK", the "Company", or "we") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that on February 16, 2012, the Company hosted representatives from the People's Government of Xiangyang City in Hubei Province and Dongfeng Motor Corporation at its Shenzhen facility.
On February 16, 2012, a group of officials led by Mr. Bixiong Bie, mayor of Xiangyang City, Mr. Shuyong Li, executive vice-mayor of Xiangyang City, and Mr. Xiangyang Geng, engineering director of the Xiangyang Branch of Dongfeng Motor Corporation, visited China BAK's Shenzhen facility. China BAK's management team and their guests exchanged ideas on cost control, safety enhancement and battery management systems for the development of EV (Electric Vehicle) batteries applied in HEV (Hybrid Electric Vehicle) and EV. All parties expressed interest in strengthening future communication on EV battery development.
XiangyangCity is seeking to be China's new energy automobile industry demonstration base and the local government is encouraging development of the EV industry in cooperation with Dongfeng Motor, which is based in Xiangyang City.
"We are pleased to welcome representatives from Xiangyang City and Dongfeng Motor to China BAK. In June 2011, we shipped EV battery cells to power a set of pure electric vehicles manufactured by Dongfeng-Yulon Motor Sales Co., Ltd., a joint venture between Dengfeng Motor and Taiwanese automaker Yulon Motor, which were delivered to the public transportation authority of the city of Hangzhou. We have received positive feedback on the quality and performance of our products," commented Mr. Xiangqian Li, president and chief executive officer of China BAK. "We will continue to foster a long-term relationship and cooperation with Dongfeng Motor and Xiangyang City in the new energy automobile industry," added Mr. Li.
