SOURCE: Advanced Battery Technologies, Inc.

March 03, 2008 08:30 ET

Advanced Battery Technologies and Wuxi Angell Autocycle Have Collaborated on the Development of an Electric Hybrid Motorcycle

Motorcycle Will Be Marketed in the European Union and United States

NEW YORK, NY and HARBIN, CHINA--(Marketwire - March 3, 2008) - Advanced Battery Technologies, Inc. (NASDAQ: ABAT) announced that it has collaborated with Wuxi Angell on the development of an electric hybrid motorcycle that utilizes cells that were initially designed for mining equipment. As a result of this collaboration, Advanced Battery Technologies, Inc. and Wuxi Angell have obtained the necessary CE markings to start marketing Wuxi's motorcycle worldwide. As one of its major contributions to this product development initiative Advanced Battery Technologies, Inc. solved key issues such as low volume capacity, impractical size, undesirable weight. Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer lithium-ion battery cells for use in electric vehicles, mining equipment and a variety of many other consumer electronics.

This hybrid motorcycle is expected to be exported to Germany, Italy, France, Spain and other European countries sometime in 2008. The motor component has already passed all necessary tests of Wuxi's German importer, A.T.U. In addition to that they have received a TÜV certificate, which is required in Germany to validate the safety of a specific product for humans and the environment. A letter of intent has also been signed with key dealers in Miami, Houston, Detroit and LA, with the expectation of this hybrid motorcycle gradually becoming available in the U.S. in 2008.

"This hybrid electronic motorcycle uses our polymer lithium ion cells. These cells were initially designed for mining equipment, which is evidence of the flexibility of our underlying cell technology. Utilizing our cells, Wuxi is able to solve some key problems, including the need for larger battery volume, the difficulty of installing bulky lead-acid batteries, and the added weight that comes with it," commented Mr. Zhiguo Fu, Advanced Battery's Chairman and CEO. "With our cells, this hybrid motorcycle will reduce environmental pollution and save energy, another strong incentive for our relationship with Wuxi," added Mr. Zhiguo Fu.

About Advanced Battery Technologies, Inc.

Founded in September 2002, Advanced Battery Technologies develops, manufactures, and distributes PLI batteries using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. ABAT develops PLI batteries for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. ABAT maintains research and development, and manufacturing facilities in Harbin, China, and administrative offices in New York, New York. Additional information about Advanced Battery Technologies is available at www.abat.com.cn

Forward-Looking Statements

Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements, are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Risk factors are listed in the most recent Annual Report on Form 10-KSB, Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking statements involve risks and uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.