Xiangqian Li, chief executive officer of China BAK, remarked on the significance of diving into the battery-powered bicycle industry, stating:
Li added that China BAK expects to sell more and more e-bike batteries in the coming years. right now, Xidesheng Bicycle cranks out more than 2.5 million bikes per year and offers one of the world's most extensive selections of battery-powered two-wheelers.The market demand for high-power lithium batteries used in e-bikes is continually increasing and we are gradually increasing our market share in this segment as the market recognizes the high-quality and stable performance of our product. We are encouraged to see new customers like Xidesheng Bicycle place orders with us.
[Source: China BAK Battery]
SHENZHEN, China, Feb. 24, 2011 /PRNewswire-Asia/ -- China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company's Tianjin facility was awarded a new contract to supply lithium-ion high-power batteries to leading e-bike manufacturer, XDS Shenzhen Xidesheng Bicycle Co., Ltd. ("Xidesheng Bicycle") in China.
As per the supply contract, in calendar year 2011, China BAK will supply 20,000 units of lithium-ion high-power batteries, which will be used to power Xidesheng Bicycle's lithium-ion electric bicycles. Management expects to receive additional orders from Xidesheng Bicycle.
"The market demand for high-power lithium batteries used in E-bikes is continually increasing and we are gradually increasing our market share in this segment as the market recognizes the high-quality and stable performance of our product. We are encouraged to see new customers like Xidesheng Bicycle place orders with us. We expect to further increase our sales of high-power batteries to E-bike customers," commented Mr. Xiangqian Li, CEO of China BAK Battery, Inc.
About XDS Shenzhen Xidesheng Bicycle Co., Ltd.
XDS Shenzhen Xidesheng Bicycles Co., Ltd. is one of the largest and most experienced manufacturers of bicycle frames and complete bicycles in China. It offers wide range of bicycles: Mountain bike MTB, Racing bicycles, City bicycles, BMX, Suspension MTB, Children's bicycles, Folding bicycles and electric bicycles. Xidesheng Bicycles are well received in America, Canada, Europe, Russia and Australia. As an OEM & ODM manufacturer its clients include many world famous brands. It was founded in 1995 and is now a large scale professional manufacturer with more than 2000 employees and annually produces more than 2,500,000 units. Its "XDS" brand bike was awarded China Top Brand and has a good presence in the international market. For more information, please visit: http://www.xidesheng.com/english/index.asp
About China BAK Battery Inc.
China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet and have been recently expanded to support the production of larger batteries for various types of vehicles. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.