NEW YORK, Sept. 21, 2009 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries, today announced its wholly-owned subsidiary, Wuxi ZhongQiang ("Wuxi ZQ") has signed two contracts to provide electric vehicles to international customers in Indonesia and Denmark. One order is for 12,000 electric bikes with an aggregate value of $2.3 million. The second order is for 2,000 electric scooters with an aggregate value of $1.1 million. Delivery on both orders is expected to occur within one month.
Commenting on the vehicle order, Mr. Zhiguo Fu, Chairman and CEO of ABAT, stated, "We are excited to announce the electric vehicle orders as it further demonstrates the expanding international scope of our operations. Equally satisfying is that these orders follow smaller orders from the customers who were satisfied with the quality, price and customer service of Wuxi ZQ. We continue to believe that ABAT and Wuxi ZQ are poised to benefit from the growing trend of consumers seeking electric and hybrid electric vehicles for their transportation needs."
About Advanced Battery Technologies, Inc
Advanced Battery Technologies, Inc., founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. Wuxi ZhongQiang Autocycle Co., Ltd, founded in 2002, develops and manufactures various types of electric vehicles. Wuxi ZhongQiang owns three types of products listed in the E-Bike directory, with more than 20 varieties: electric bikes; agricultural transport vehicles for practical transportation; sport utility e-vehicles such as scooters, off-road vehicles, go-karts, snow scooters, sea scooters, as well as underwater propeller vehicles. Wuxi ZhongQiang products are exported to countries and regions in Europe, the United States and Asia. The Company has a New York office, with its executive offices and manufacturing facilities in China. For more information about Advanced Battery Technologies, Inc. (ABAT), please visit: http://www.abat.com.cn.
Safe Harbor Statement
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.