NEW YORK, Sept. 15, 2009 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries, today provided a business update for Wuxi Zhongqiang ("Wuxi ZQ"). Since the acquisition closed in May 2009, ABAT has been integrating the operations of Wuxi ZQ into those of ABAT, including technical capabilities, marketing, production and human resources. The integration process between Wuxi ZQ and ABAT has enabled Wuxi to augment and improve its production scope and scale. Domestic merchants have increased orders of electric and hybrid electric bikes and scooters with Wuxi ZQ. In addition, Wuxi ZQ has received orders from new foreign customers, including those located in the Philippines, Switzerland, Israel, Czech Republic, Italy, Brazil, the United States, Chile, Denmark, the Netherlands, Germany, Hong Kong, Malaysia and India.
Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, Inc., stated, "We are excited about the improving business trends of Wuxi ZQ. Dealers from around the world have come to value our product's excellent quality, superior technology and customer service. After placing small orders, several merchants are negotiating with us to enter into long term order contracts. As our scale and production capabilities increase, Wuxi ZQ will promote and extend sales of electric bicycles and scooters to an increasing number of countries around the world."
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc., 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. Wuxi Zhongqiang Autocycle Co., Ltd, founded in 2002, develops and manufactures various types of electric vehicles. Wuxi Zhongqiang owns three types of products listed in the E-Bike directory, with more than 20 varieties: electric bikes; agricultural transport vehicles for practical transportation; sport utility e-vehicles such as scooters, off-road vehicles, go-karts, snow scooters, sea scooters, as well as underwater propeller vehicles. Wuxi Zhongqiang products are exported to countries and regions in Europe, the United States and Asia. The Company has a New York office, with its executive offices and manufacturing facilities in China. For more information about Advanced Battery Technologies, Inc. (ABAT), please visit: http://www.abat.com.cn.
Safe Harbor Statement
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.