SOURCE: Advanced Battery Technologies, Inc.

ABAT

December 09, 2014 09:00 ET

Advanced Battery Technologies Signed Important Strategic Agreement

NEW YORK, NY and BEIJING, CHINA--(Marketwired - December 09, 2014) - Advanced Battery Technologies, Inc. (OTC PINK: ABAT), specializing in the design, manufacture and distribution of eco-friendly rechargeable batteries and related light electric vehicle products, today announced that the company has signed a strategic agreement with Chengdu Xundi Electric Vehicle Manufacturing Co., Ltd. (Chengdu Xundi).

Chengdu Xundi specializes in the development, production and sales of electric vehicles and electric vehicle parts in China. ABAT and Chengdu Xundi signed a strategic agreement to jointly develop a fast charging battery, which enables a one-time charge to supply a driving range above 400 kilometers (equivalent to 248.5 miles) for electric cars. The three-year agreement signed on December 5, 2014, strategically positions ABAT to develop and supply the fast charging batteries to Chengdu Xundi. Chengdu Xundi will use ABAT's batteries and leverage its advanced vehicle technology to produce electric vehicles to meet the new energy automotive sector standards.

Mr. Huang, General Manager of Chengdu Xundi Electric Vehicle Manufacturing, commented, "We are very pleased with the strategic relationship with ABAT. Our company chose to partner with ABAT because ABAT is an innovative leader in the battery industry. ABAT's fast charging battery offers outstanding safety, superior performance, strong reliability and long driving range for electrical cars. We plan to manufacture 10,000 electric cars in 2015 and all these vehicles will use ABAT's batteries."

Mr. Zhiguo Fu, Chairman of Advanced Battery Technologies, commented, "Electric and hybrid vehicles represent the future of the automotive industry. The entry of ABAT's fast charging battery to this market indicates that our battery technology is at the forefront of the industry and our innovations help meet the growing demand for electric cars and other electric vehicles. We expect ABAT will be at the forefront of this market, as we have already established our leadership in such markets as electric bikes, scooters, and leisure vehicles, among others."

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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