China BAK Enters into Strategic Cooperation with FAWER

China BAK Battery

today announced that the Company's Shenzhen-based subsidiary entered into a strategic cooperation program to develop electric vehicle (EV) battery modules and high-capacity battery products with input from FAWER Automotive Parts Limited Company, or FAWER, a subsidiary of China FAW Group Corporation, or FAW, one of China's leading vehicle manufacturers. Under the new program, China BAK and FAWER will cooperate in developing EV battery modules and high-capacity battery products. As part of the program, FAWER has placed a sample order for the Company's EV battery modules. FAWER is expected to test the batteries in certain electric vehicles under development by FAW.