The electric vehicle manufacturer/battery distributor also include Ultra Motor India Pvt. Ltd., Tube Investments Of India Limited, Boston Golf Pty Ltd., and Alco Battery Sales.

‘Demand for environmentally friendly electric vehicles is increasing as consumers and governments worldwide are moving to reduce their dependence on oil-based transportation and battery technology increasingly delivers more efficient and better performance,’ commented Jiada Hu, China Ritar’s chairman and chief executive officer. ‘We believe we are well positioned to benefit from the growth in the electric vehicle industry with our lead acid batteries that have the capability to power an electric vehicle up to 90 miles without needing to be recharged and are priced at approximately 50% less than international manufacturers. More specifically, Shenzhen Greenwheel Electric Vehicle, one of the biggest EV manufacturers in China, is in the process of constructing a new industrial park in Wuxi, China, with capacity to manufacture up to 50,000 electric vehicles annually. Once Shenzhen Greenwheel Electric Vehicle begins manufacturing electric vehicles at the new industrial park, we expect to receive orders worth up to $15 million.’

China Ritar is a manufacturer of lead acid batteries.