China Bak Battery Electric Vehicles Lithium-phosphate Power Battery Industrialization Project Expanded

摘要

According to China BAK Battery CEO Xiangqian Li, the company's Electric Vehicles Lithium-phosphate Power Battery Industrialization Project has been selected as a key project of the PRC's National High Technology Research and Development Program, or "863 Program" by the PRC's Ministry of Science and Technology. Under expected terms of the official election, China BAK will receive a grant of up to $3.1 million from the PRC's central government and certain subsidy grants, amount to be determined, from the Shenzhen Municipal Government in coming quarters.