NEW YORK, June 8, 2010 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, today announced that it received an order to sell electric vehicles valued at approximately $1.1 million to US-based All-Power America. The first batch of electric motorcycles was shipped to All-Power America on June 6, 2010. This is the first entry into the US market for ABAT's electric vehicles since the Company acquired ownership of Wuxi ZQ in May 2009. The Company signed the sales contract with All-Power America in May and plans to deliver approximately 2,000 scooters by the end of June. All-Power America specializes in manufacturing power tools and power equipment, with operations in Shanghai, China and California, USA. The order from All-Power America demonstrates the Company's continuing efforts to expand its international customer portfolio, in this case to include the North America market. Mr. Zhiguo Fu, CEO of ABAT, stated, "This new order is an example of management's significant progress in expanding and servicing overseas customers. Entering the US market is a very important milestone for us and the renewal of orders from our current customer base in Europe, the Middle East and South East Asia only adds to the recognition our eco-friendly electric vehicles are receiving all around the world." |