NEW YORK, April 13, 2010 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, today announced that it obtained approximately $1.6 million in new orders of electric vehicles during its product promotion conference held in Wuxi City, Jiangsu Province, China.
On March 30 and March 31, 2010, ABAT held a product promotion conference for its electric vehicles customers from both domestic and overseas markets. Approximately two hundred people participated in this conference, including customers from Netherlands, Chile, Canada, India, Afghanistan and hundreds of Chinese companies.
The conference exhibited ABAT's seven main product series with more than forty types of electric vehicles on display. During the conference, the company signed sales contracts totaling approximately $1.6 million with four customers. The company plans to deliver the electric scooters within the next twelve months.
Mr. Zhiguo Fu, CEO of ABAT, stated, "The new orders demonstrate management's significant progress in serving both domestic and overseas customers. We will continue to work closely with our local distributors by providing state of the art products capable of meeting the diverse demands of their customers. We are also grateful for their strong and continuous support."
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (Nasdaq:ABAT), 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. Early in 2009, the Company acquired Wuxi Angell Autocycle Co. Ltd., an electric vehicle business, and renamed it Wuxi Zhongqiang Autocycle Co., Ltd. ("Wuxi ZQ"). The Company has a New York office, with its executive offices and manufacturing facilities in China.