China BAK gets govt. grant and industry orders for Li-ion batteries

The federal government of China has given China BAK Battery, Inc. a $1.9 million grant to further work on a battery module project. The module consists of cylindrical lithium-ion cells that can be used in electric vehicles, electric motors, electric bicycles (e-bikes), and power storage. The government funds will be used to further develop the battery module's efficiency and environmental-friendliness. The company also recently announced several supply agreements, including one under which it will deliver 1000 high-power Li-ion batteries in 2012 to Chinese automaker Chery for its Ruilin M1 electric cars.

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