|By PR Newswire||
|September 1, 2014 10:38 AM EDT||
DALIAN, China, Sept. 1, 2014 /PRNewswire/ -- On August 29, a delegation of the Standing Committee of Dalian Municipal People's Congress took an inspection tour of the power lithium battery R&D and production base of China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK) in Dalian. The delegation studied the business, products and solutions provided by China BAK and took a test drive of electric vehicles powered by BAK batteries. Mr. Jingrui Li, Director-General of the Standing Committee of Dalian Municipal People's Congress, pointed out that new energy has become one of the emerging strategic industries receiving focused attention from the Dalian government in recent years. As the world's leading lithium battery manufacturer and electric energy solution provider, by entering Dalian, China BAK will boost local new energy-related industries - such as the power battery sector - and can help the city of Dalian expedite its effort to take a leading position in China's new energy industry. China BAK's Chairman Xiangqian Li and several of the company's core executives accompanied the government officials during the tour and introduced the investment, planning and construction progress, and outlined future prospects for this base.
Located in the Dalian Huayuankou Economic Zone, China BAK's power lithium battery project was funded by Dalian BAK Power Battery Co., Ltd. (" Dalian BAK"), China BAK's wholly-owned subsidiary. With a total investment of approximately USD60 million and covering an area of 15.4 hectares, the project is expected to be equipped with four of the most advanced lithium battery production lines in China and forecasts an annual output of 120 million Ah of high-energy power lithium batteries after completion, to provide 100,000 sets of power battery packs for electric vehicles and energy storage products.
In recent years, thanks to the Chinese government's favorable policies, the growth of the new energy vehicle industry has shown significant momentum. The year 2014 is seen as the first real year for the development of China's new energy vehicle industry by many industry insiders. In the first half of 2014, the production of new energy vehicles reached 20,700 units - up 230 percent year-on-year; and sales reached 20,500 units - up 220 percent year-on-year. As the core mechanism for new energy vehicles, the power battery industry has also recently welcomed an unprecedented growth. According to the Development Program for the Energy Efficient and New Energy Vehicle Industry 2012-2020 designed by the State Council of the PRC, some major objectives are: to enthusiastically advance innovation in power battery technologies; scientifically plan the industrial layout; focus on developing power battery industry clusters; and actively promote the mass production of power batteries. With the recent introduction of a number of supporting policies, the production of power batteries for vehicles has grown remarkably. The statistics from the Ministry of Industry and Information Technology (MIIT) have shown that the production of power lithium batteries for electric vehicles stood at 804 million watt-hours in the first half of 2014, compared to the 360 million watt-hours in the whole of 2013.
As one of the first pilot cities in China to promote new energy vehicles, Dalian plans to own 5,000 units of new-energy vehicles by 2015. In early August, the municipal government issued the Opinions on Further Promoting New Energy Vehicles, based on which the municipal government will provide a one-time subsidy to new energy vehicle buyers who meet the subsidy requirements put forward by the central government, according to a ratio of 0.8:1. The promotion and application of new energy vehicles has also advanced the development of related industries. Currently, multiple new energy-related industrial bases are being developed in Dalian. Among them, the Huayuankou Economic Zone - a national hi-tech and new materials industrial base - has taken shape in its initial form as a cluster of technology-intensive industries dominated by new energy, new materials and biopharmaceutical industries. Moreover, the new energy industry cluster - led by projects such as China BAK's power battery project - enjoys an increasingly obvious advantage and provides strong support for Dalian in its effort to become one of the country's first pilot cities for the application of new energy vehicles.
According to Mr. Jingrui Li, Director-General of the Standing Committee of Dalian Municipal People's Congress, "Power lithium batteries represent the main direction for new energy vehicle technologies during the "12th Five-Year Plan" period. We are very confident that China BAK will be able to produce internationally advanced power batteries. We also hope that China BAK can introduce more external think tanks like the Dalian Institute of Chemical Physics of Chinese Academy of Sciences ("DICP") to further the advancement of technological innovation, making Dalian the industrial and innovation base for energy efficient and new energy vehicles in northern China."
Mr. Xiangqian Li, Chairman of China BAK, said, "The Huayuankou Economic Zone in Dalian is actively developing the new material and new energy industries. During our cooperation, we are very much impressed by the government's confidence, determination and execution in growing the local economy and, therefore, are more confident about the future. With a good ecological environment and convenient transportation in Dalian - and by taking advantage of the opportunities for change in the lithium battery industry, as well as by capitalizing onthe region's industrial and educational resources and supportive government policies - BAK will achieve another strategic advancement, helping to make Dalian a leader in the newenergy industry, while driving the development of the entire lithium battery industry."
In July 2013, China BAK and the Dalian municipal government officially signed an agreement to invest in the power lithium battery project. The development of the project began in October 2013 and is expected to be completed and put into commercial operation before the end of calendar year 2014. We have been actively working with the existing customers of BAK International (Tianjin) Limited ("Tianjin BAK") on transfer of their orders to Dalian BAK. Dalian BAK also has and will continue to outsource its customers' orders to Tianjin BAK until the manufacturing facility begins its commercial operations.
About China BAK Battery, Inc.
China BAK Battery, Inc. (CBAK),founded in August 2001, is a global leading, high-tech enterprise engaged in the R&D, manufacture, and sale of high-power lithium batteries. The application of its products and solutions covers such areas aselectric tools, transportation and energy storage. As the first lithium battery company in China to belisted in the U.S. in January 2005, CBAK possesses China's first production base specially engaged in power battery, and has its wholly-owned subsidiary - Dalian BAK Power Battery Co., Ltd., and a large-scale R&D and production base in Dalian. For more information, please visit www.cbak.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of China BAK Battery, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the ability of the Company to meet its contract obligations; the uncertain market for the Company's high-power lithium and other battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for electric vehicles; and risks related to China BAK's business and risks related to operating in China. Please refer to China BAK's Annual Report on Form 10-K for the fiscal year ended September 30, 2013, as well as other SEC reports that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. China BAK's actual results could differ materially from those contained in the forward-looking statements. China BAK undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE China BAK Battery, Inc.
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 27, 2017 09:45 PM EDT Reads: 3,630
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with budd...
Mar. 27, 2017 09:45 PM EDT Reads: 3,038
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
Mar. 27, 2017 08:15 PM EDT Reads: 6,309
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 27, 2017 07:45 PM EDT Reads: 2,192
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Mar. 27, 2017 07:30 PM EDT Reads: 4,585
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Mar. 27, 2017 06:45 PM EDT Reads: 12,925
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle.
Mar. 27, 2017 06:00 PM EDT Reads: 3,007
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 27, 2017 03:45 PM EDT Reads: 1,422
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 27, 2017 03:30 PM EDT Reads: 2,963
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 27, 2017 02:45 PM EDT Reads: 1,968
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 27, 2017 02:30 PM EDT Reads: 4,037
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Mar. 27, 2017 02:30 PM EDT Reads: 4,339
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 27, 2017 02:30 PM EDT Reads: 3,687
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 27, 2017 02:00 PM EDT Reads: 2,076
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 27, 2017 01:30 PM EDT Reads: 1,221