By Cameron Chai
China BAK Battery (China BAK), a lithium-based battery cells manufacturer, has signed a new supply agreement with Chery Automobile. The company will deliver high-power batteries to Chery, according to the contract.
During 2012, the company will supply 1,000 high-power lithium-ion battery units in order to drive Ruilin M1 electric cars of Chery. This new agreement is an addition to the former contract made by the company with Chery. The former contract was signed during February 2012 for provide Chery with 100 high-power battery units, wherein the delivery was scheduled to June 2012. The Ruilin M1 electric car (EV) is one of the five EV models, which have obtained the approval for being used by the government since early 2012.
China BAK reported that the company and Chery will conduct a joint press conference in Tianjin, during mid-April. China BAK and Chery have planned to declare a long-term partnership program in the EV industry, at the conference.
The Chief Executive Officer of China BAK, Mr. Xiangqian Li stated that the company trusts that this additional contract from Chery as well as any further orders and its support prove that China BAK has the potential to supply high-quality battery products and lead to the expansion of the electric vehicle battery market in China. China BAK is continuously anticipating further contracts from other domestic clients for the company’s high-power lithium-ion batteries in order to power the electric vehicles in China during 2012, he added.