China BAK receives $1.9M government subsidy for its battery module project

theflyonthewall.com

China BAK Battery announced that the company has received a $1.9M subsidy for its battery module project from the National Development and Reform Commission, or NDRC, and Ministry of Industry and Information Technology, or MIIT. Additionally, the company announced that it has received new orders from its e-bike customers and expects to deliver 12,000 high-power lithium-ion battery units to its e-bike customers by the end of April 2012.

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