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Advanced Battery Technologies in $23.4M Lithium-Ion Battery Contract With Wuxi Angell Autocycle

Advanced Battery Technologies, Inc. has signed a contract with Wuxi Angell Autocycle Co., Ltd. to produce lithium-ion battery cells for 150,000 electric bicycles and motorcycles by the end of 2008.

Wuxi Angell Autocycle Co., Ltd. is a manufacturer of electric vehicles. Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer lithium-ion (PLI) battery cells for use in electric vehicles, mining equipment, and a variety of consumer electronics.

The battery cells will be used in electric bicycles and motorcycles produced by Wuxi for export to the A.T.U. Corporation of Germany. A.T.U. has a number of subsidiaries worldwide and 49 overseas sales distributors.

Advanced Battery Technologies develops, manufactures, and distributes PLI batteries using lithium cobalt oxide anodes.


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