China BAK receives $1.9M government subsidy for Li-ion battery module project; more orders for e-bike packs
China BAK Battery, Inc. has received a $1.9-million subsidy for its battery module project from the National Development and Reform Commission (NDRC) and Ministry of Industry and Information Technology (MIIT).
China BAK’s battery module is consists of cylindrical cells that can be used in electric vehicles (EVs), electric motors, electric bicycles (e-bikes) and power storage. The government funds will be used to further develop the battery module.
Additionally, China BAK announced that it has received new orders from its e-bike customers and expects to deliver 12,000 high-power lithium-ion battery units to its e-bike customers by the end of April 2012.