SOURCE: Advanced Battery Technologies, Inc.

Advanced Battery Technologies, Inc.

November 11, 2014 09:00 ET

Advanced Battery Technologies Announce Multi-Year Distribution Contracts From New Product Launch

Combined Minimum of 13,000 Vehicles in Three Years With Estimated Revenue of More Than 150 Million RMB

NEW YORK, NY and BEIJING, CHINA--(Marketwired - November 11, 2014) - Advanced Battery Technologies, Inc. (PINKSHEETS: ABAT), specializing in the design, manufacture and distribution of eco-friendly rechargeable batteries and related light electric vehicle products, today announced that Wuxi Angel Automatic Vehicle Company ("Wuxi Angel"), its wholly owned subsidiary, has signed two new multi-year distribution contracts to market and sell its newly launched pure lithium battery powered electrical vehicles. Wuxi Angel designed and developed three series of new products: eco-friendly cleaning vehicles, senior scooters and leisure vehicles. These vehicles, all powered by the Company's new fast charging pure lithium batteries, have zero emission to the environment. 

Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, commented, "We are very pleased to announce the launch of three series of eco-friendly cleaning vehicles, senior scooters and leisure vehicles. These new products clearly demonstrate our ability to innovate and develop products based on market demand. Eco-friendly electric vehicles are gaining more attention in China as conventional vehicles pollute our environment and impact the climate. Our products have been well received by the market and customers. We have signed two agreements with regional distributors to help us market and sell these eco-friendly electric vehicles. These distributors, strategically selected by ABAT, will sell a combined minimum of 13,000 vehicles (in three categories of eco-friendly cleaning vehicles, senior scooters and leisure vehicles) in three years with estimated revenue of more than 150 million RMB. ABAT is committed to the clean energy industry and will continue to bring new products to the market."

Based on the market changes and product demand, Wuxi Angel has developed a new series of innovative eco-friendly vehicles. These new electric vehicles fall into three categories.

  • Eco-friendly Cleaning Vehicles
    • Street Sweepers -- this series of electrical powered light vehicles are mainly used in cleaning roads and sweeping courtyards
    • Floor Washers -- this series is mainly used for indoor floor washing and cleaning
    • Refuse Vehicles -- this series of eco-friendly light refuse vehicles are used for the transportation of waste collection
  • Senior Scooters -- this series of senior scooters are used for leisure travel of senior and elderly citizens
  • Leisure Vehicles -- this series of leisure vehicles include two-wheel electric scooter for leisure and fitness

About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (ABAT), with executive office in Beijing, China is committed to the clean energy industry. With three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China, ABAT engages in the design, manufacture, marketing and distribution of rechargeable polymer lithium-ion (PLI) batteries and related Light Electric Vehicles (LEV's) products. Additional information about the Company is available at: http://abat.sys145.pkulab.com/a/english/.

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that the demand for the Company's electric vehicles may be limited. We undertake no obligation to revise or update publicly any forward-looking statements.

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