Advanced Battery Technologies Inc has signed a $14.7 million deal to supply electric vehicles, including motorized bicycles and scooters, to a Chinese company.
The company said Monday that it signed the contract through its Chinese subsidiary, Wuxi Zhongqiang Autocycle Co. The deal calls for Advanced Battery Technologies to provide 24,000 electric vehicles to Wuxi Hao Jie Vehicle Co.
The contract runs from June through May 31, 2012. Advanced Battery Technologies is based in New York, with factories in China.
Advanced Battery Technologies said it landed the deal after a trial delivery of vehicles in April and May. The company makes rechargeable, polymer lithium-ion batteries for use in motorized bicycles, scooters, computers and other electronic devices.
