DALIAN, China, July 28, 2014 /PRNewswire/ -- China BAK Battery,
Inc. (Nasdaq: CBAK), the world's leading lithium battery
manufacturer and electric energy solution provider, announced today
that it has reached a strategic cooperation agreement with Dalian
Institute of Chemical Physics of Chinese Academy of Sciences
("DICP"). Under the agreement, the two parties will jointly
research and develop the next-generation key technologies and
materials in power battery with an aim to produce the most
powerful battery worldwide. In addition, CBAK and DICP will join
hands in training technical talents in China's power battery industry so as to
further promote the industrial development.
With CBAK's strengths in the power battery sector and DICP's
leading technology in advanced rechargeable battery and key
materials, the two parties will cooperate in the R&D of
next-generation power battery manufacturing technologies with new
battery materials, from lab scale tests, pilot scale tests to
industrial tests, and related special preparation techniques. In
addition, CBAK and DICP will also cooperate in training graduate
and post-doctoral students and co-build a graduate practice base,
which will provide talent and technical support towards enhancing
China's international
competitiveness in the power battery industry.
With China's improving support
for new energy vehicles, an explosive and continued growth is
expected in the new energy vehicle market. The lithium battery
industry, as the battery components of new energy vehicles, has
thus been elevated to a strategic height. The R&D of
next-generation advanced lithium battery and its key materials –
characterized by high energy density, high security, long-lasting
life, and low cost – as well as the training of related technical
talents, have become a major demand in the development of advanced
electric vehicles in China.
"Technology drives industrial development, which is CBAK's core
concept in business development. CBAK has been attaching great
importance to R&D, and has trained a group of top battery
technology experts in China. In
the meantime, it has also reached in-depth cooperative
relationships with a number of Chinese top research institutes. The
alliance with the Chinese Academy of Sciences is an important
milestone in the development of the company, and is sure to help
CBAK become the world's most remarkable power battery solution
provider," said Dr. Jian Lin, Chief
Technical Officer of CBAK.
"The ultimate aim of technological R&D is to serve
industrial progress. The cooperation between CBAK and DICP in
aggregating and training technologically innovative talents in the
field of power battery materials will help further develop key
technologies and materials of power battery, effectively break
through the bottleneck of the industry, and promote the development
of the electric vehicle industry," said Mr. Baolian Yi, academician of DICP.
CBAK is the first company in China specially engaged in power battery and
successfully applied for the project of "Research of
industrialization of lithium power battery systems", a National 863
Program project, in July 2008. The
CBAK industrial base at Huayuankou District in Dalian is expected to be formally put into
production in the second half of this year. The base covers an area
of 231 mu (or 15.4 ha), forecasts an annual output of 120 million
Ah, and will be applied in such fields as electric vehicles, light
electric vehicles, power tools, transportation and energy storage.
At present, the marketing network of CBAK has covered the Chinese
mainland market and its products are exported to Europe, North & South America, Southeast Asia, Taiwan of China, Korea, among other regions and
countries.
About China BAK Battery, Inc.
China BAK Battery, Inc. (NASDAQ: CBAK) is a global leading
high-tech enterprise engaged in the R&D, manufacture, and sales
of high power lithium batteries. The application of its products
and solutions covers such areas as electric vehicles, light
electric vehicles, electric tools, transportation and energy
storage. As the first lithium battery company in China to get listed in the U.S. in
January 2005, CBAK possesses
China's first production base
specially engaged in power battery, and has its wholly-owned
subsidiary – Dalian BAK Power Battery Co., Ltd., and a large-scale
R&D and production base in Dalian. For more information, please visit
www.cbak.com.cn.
About Dalian Institute of Chemical Physics of Chinese Academy
of Sciences (DICP)
DICP has long been engaged in the R&D of electrical energy
conversion, focusing on the development of new energy technologies
characterized by high energy density, high durability,
eco-friendliness and suitability for electric vehicles, distributed
power substation and mobile communications. It has undertaken a
number of projects under such programs as "973", "863",
ministry-designated and Natural Science Foundation projects –
accumulating extensive experience in battery engineering
development in electric energy conversion and storage.
Safe Harbor Statement
This press release contains forward-looking statements, which
are subject to change. The forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All "forward-looking statements"
relating to the business of China BAK Battery, Inc. and its
subsidiary companies, which can be identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involve known and unknown risks and
uncertainties which could cause actual results to differ. These
factors include but are not limited to: the ability of the Company
to meet its contract obligations; the uncertain market for the
Company's high-power lithium and other battery cells; business,
macroeconomic, technological, regulatory, or other factors
affecting the profitability of battery cells designed for electric
vehicles; and risks related to China BAK's business and risks
related to operating in China.
Please refer to China BAK's Annual Report on Form 10-K for the
fiscal year ended September 30, 2013,
as well as other SEC reports that have been filed since the date of
such annual report, for specific details on risk factors. Given
these risks and uncertainties, you are cautioned not to place undue
reliance on forward-looking statements. China BAK's actual results
could differ materially from those contained in the forward-looking
statements. China BAK undertakes no obligation to revise or update
its forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
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SOURCE China BAK Battery, Inc.