China BAK Battery has secured a new contract to provide its high-power lithium-ion batteries to a Korean electric motor manufacturer.
Under the terms of the contract, China BAK’s 300 high-power lithium-ion battery units will be supplied to the Korean manufacturer by the next month to power its electric motors.
China BAK CEO Xiangqian Li said "We are pleased with customer feedback on our high-power lithium-ion batteries and expect to receive additional orders in the third fiscal quarter of 2012."
"We will continue our attention toward engaging with the EV industry and expect to make additional progress in this direction," Li said.
China BAK is a global manufacturer of lithium-based battery cells.