China BAK Battery, Inc. announced that the company’s wholly-owned subsidiary, BAK International (Tianjin) Ltd. , received a subsidy of approximately $7.5 million for its automated high power lithium battery project from the National Development and Reform Commission (NDRC) and Ministry of Industry and Information Technology (MIIT).
The company’s automated high power lithium battery project was previously selected as a key project of the PRC’s National High Technology Research and Development Program, or “863 Program”. BAK Tianjin focuses on the research and development, manufacturing and distribution of advanced high-power lithium battery cells for use in light electric vehicles (EV) and hybrid electric vehicles.