Awesome news out today!!! They are still selling for a fraction of book value.
SHENZHEN, China , Aug. 23, 2012 /PRNewswire-Asia/ -- China BAK Battery, Inc. .... a leading global manufacturer of lithium-based battery cells, today announced that the Company has received a sample order to supply its lithium-ion batteries to FAW-Volkswagen Automotive Co., Ltd. ("FAW-Volkswagen"), a major passenger sedan joint-venture of FAW Group Corporation and Volkswagen AG .
China BAK plans to deliver three lithium-ion battery units to FAW-Volkswagen by the end of September 2012. FAW-Volkswagen will utilize the Company's lithium-ion battery units to power its electric cars and to test the performance and reliability of the battery units.
"FAW-Volkswagen is a leading passenger car manufacturer in China and we look forward to delivering our lithium-ion battery units to power its new electric car. Our cooperation with FAW-Volkswagen demonstrates our technological strength and market recognition. Upon successful testing, we expect to expand the scope of our cooperation and hope to receive additional orders," commented Mr. Xiangqian Li, CEO of China BAK.
About FAW-Volkswagen Automobile Co. Ltd.
FAW-Volkswagen Automotive Co., Ltd. is a major passenger sedan joint-venture of FAW Group Corporation and Volkswagen AG, Audi AG and Volkswagen Automobile (China) Investment Co., Ltd. It is China's first modern passenger sedan industrial base of considerable economic scale. FAW-Volkswagen adopts advanced technologies and equipment to manufacture some of the world's most famous brands – Jetta; Bora; Golf; Caddy; Sagitar and Audi.
About China BAK Battery, Inc China BAK Battery, Inc. 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, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets. China BAK Battery, Inc. production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
