China BAK Battery, Inc. has received a new contract to supply high-power batteries used in the Chery Automobile Ruilin M1 electric car. Chery is one of China BAK’s long-term customers.
According to the contract, China BAK will supply 100 units of lithium-ion high-power batteries, which will be used to power Chery’s electric cars in the first half of 2012. Ruilin M1 is Chery’s first Lithium-ion EV, and was officially launched at the 25th World Electric Vehicle Symposium and Exposition in November 2010. China BAK will deliver these batteries to Chery by the end of June 2012.
We expect to receive additional orders from Chery in the second half of 2012. We also expect additional domestic customers to place orders for electric vehicle batteries in 2012.—Xiangqian Li, CEO of China BAK