China BAK Battery, Inc. (NASDAQ: CBAK) Consolidating In Electric Car Market

China BAK Battery, Inc.

China BAK Battery, Inc.. is a manufacturer of rechargeable lithium-based battery cells. The company produces battery cells that are the principal component of rechargeable batteries used to power a large variety of electronic devices such as cellular phones, notebook computers, and portable consumer electronics such as digital cameras, portable media players, portable gaming devices and personal digital assistants (PDAs), and other applications, such as cordless power tools, mining lamps, light electric vehicles and hybrid electric vehicles. Needless to say, China BAK has been busy.

The company, which conducts all its operations in China, has a product line consisting of cylindrical lithium-ion cells, high-power lithium-phosphate cells, and lithium polymer cells. Today, China BAK announced that its Tianjin facility was awarded a new contract to supply lithium-ion high-power batteries to leading e-bike manufacturer, Geoby Electric Vehicle Co., Ltd. ("Geoby Electric") in China.

China Bak will be supplying 1,000 units of lithium-ion high-power batteries to Geoby for the manufacturing of electric bicycles and the company is optimistic about receiving additional orders from Geoby Electric. The announcement comes as a continuation to recent news China Bak made available on September 10th, 2010, when a deal to supply 110 units of lithium-ion power batteries used by Chery to manufacture electric cars was sealed. The company's effort to conquer the bulk of market share in the electric car segment is gaining momentum with Geody Electric.

The stock gained nearly 9.04% on the heels of the detailed being released in the Chery deal.

Crude oil prices have a projected upward trajectory; so much so, in fact, that the future for the electric cars and hence for China Bak is looking increasingly solid. The days of mega-SUV's and gas guzzlers are over and the sheek, sexy new 50+ MPG coupes are in.

The real test for China Bak will be to provide quality products consistently and coming to market in a timely manner. The company has so many avenues for growth will the focus of China BAK be on powering electric automobiles, or powering our kid's Nintendo DS? The company will be able to explore further business in all nooks and crannies of the lithium battery market if China BAK can continue to deploy their strategies internationally.

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China BAK Battery, Inc. (NASDAQ: CBAK) Consolidating In Electric Car Market

By: Ronald Russo

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