Message #8 From:
NewsBot Date: March 10, 2008 11:27:43 PM
Advanced Battery Technologies and Wuxi Angell Autocycle Have Collaborated on the Development of an Electric Hybrid Motorcycle
Motorcycle Will Be Marketed in the European Union and United States
Advanced Battery Technologies, Inc.
(NASDAQ: ABAT) announced that it has collaborated with Wuxi Angell on the
development of an electric hybrid motorcycle that utilizes cells that were
initially designed for mining equipment. As a result of this collaboration,
Advanced Battery Technologies, Inc. and Wuxi Angell have obtained the
necessary CE markings to start marketing Wuxi's motorcycle worldwide. As
one of its major contributions to this product development initiative
Advanced Battery Technologies, Inc. solved key issues such as low volume
capacity, impractical size, undesirable weight. Advanced Battery
Technologies, Inc. develops, manufactures, and distributes rechargeable
polymer lithium-ion battery cells for use in electric vehicles, mining
equipment and a variety of many other consumer electronics.
This hybrid motorcycle is expected to be exported to Germany, Italy,
France, Spain and other European countries sometime in 2008. The motor
component has already passed all necessary tests of Wuxi's German importer,
A.T.U. In addition to that they have received a TÜV certificate, which is
required in Germany to validate the safety of a specific product for humans
and the environment. A letter of intent has also been signed with key
dealers in Miami, Houston, Detroit and LA, with the expectation of this
hybrid motorcycle gradually becoming available in the U.S. in 2008.
"This hybrid electronic motorcycle uses our polymer lithium ion cells.
These cells were initially designed for mining equipment, which is
evidence of the flexibility of our underlying cell technology. Utilizing
our cells, Wuxi is able to solve some key problems, including the need for
larger battery volume, the difficulty of installing bulky lead-acid
batteries, and the added weight that comes with it," commented Mr. Zhiguo
Fu, Advanced Battery's Chairman and CEO. "With our cells, this hybrid
motorcycle will reduce environmental pollution and save energy, another
strong incentive for our relationship with Wuxi," added Mr. Zhiguo Fu.
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, and consumer electronics, including cellular
telephones, laptop computers, and digital cameras. ABAT maintains research
and development, and manufacturing facilities in Harbin, China, and
administrative offices in New York, New York. Additional information about
Advanced Battery Technologies is available at www.abat.com.cn
