Advanced Battery Technologies Announces Contract With ZAP, a Leading Provider of ZEVs
Advanced Battery Technologies, Inc. announced that it has entered into an agreement to supply ZAP with $5.168 million of polymer lithium and nano batteries. U.S.-based ZAP invents, designs, manufactures, and markets personal and commercial zero-emission vehicles for land, water, and air use. Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer-lithium-ion (PLI) batteries.
"We are extremely gratified to receive this substantial order from ZAP. This is our first order from a U.S. company and validates our U.S. targeted marketing efforts," stated Mr. Zhinguo Fu, ABAT Chairman and Chief Executive Officer. "We're excited about the huge opportunity for our products in the U.S., as companies like ZAP proliferate to meet the growing demand for zero-emission vehicles," Mr. Fu concluded.
Founded in September 2002, Advanced Battery Technologies develops, manufactures, and distributes PLI batteries using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. ABAT develops PLI batteries for use in electric vehicles, mine lamps, cell phones, notebook computers, and other electronic devices. ABAT maintains R&D and manufacturing facilities in Harbin, China. Additional information about Advanced Battery Technologies is available at www.abat.com.cn.
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. The Company recently launched a new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer, and investor information, visit http://www.zapworld.com.