NEW YORK and BEIJING, March 28, 2011 (GLOBE NEWSWIRE) -- China Lithium Technologies Inc. (OTCBB:CLTT), a leading lithium-ion battery module, lithium-ion battery charger and lithium-ion battery management system manufacturer and distributor, today announced it participated in the 8th Annual China-Taizhou International Electric Vehicle & Spare Part Exhibition in Taizhou, China from March 1 to March 3, 2011, resulting in contracts with 3 new customers totaling $2 million.
Mr. Kun Liu, chief executive officer of China Lithium Technologies, commented, "We are very pleased with the new business we developed as a result of our participation in the 8th Annual China-Taizhou International Electric Vehicle & Spare Part Exhibition earlier this month. At this event, we displayed our Lithium Magic Cube line of products, which includes battery modules, battery management systems, and charging systems for lithium-ion batteries. The 60Ah/80Ah products from the Lithium Magic Cube series can be used in electric automobiles through parallel connections. This technology makes it possible to seamlessly upgrade a battery system from lead-acid batteries to Lithium-ion batteries, and represents a major advancement in electronic vehicle technology. These batteries are free of contaminants, without any heavy metals or rare metals, and carry the important CE and RoHS certifications. We were the only company using lithium iron phosphate as an anode material in our batteries, which generated further interest in our technologies. We hope to secure additional business from our experience at the exhibition."
The China-Taizhou International Electric Vehicle & Spare Part Exhibition provides a platform for companies from the electric vehicle industry in China to showcase their brands to a global audience. This year's theme was "low carbon life, green trips, luxurious products and leading electric motors."
About China Lithium Technologies Inc.
China Lithium Technologies is a leading designer, manufacturer and distributor of polymer lithium-ion battery modules, lithium-ion battery chargers, lithium-ion battery management systems, as well as other lithium-ion battery management devices essential to proper power utilization. The company has also developed an efficient battery management system that balances the process of charging and discharging multiple lithium-ion battery cells, and which adjusts the charging frequency to temperature changes in the ambient environment. The company's products are widely distributed and used in electric automobiles, motorcycles and bicycles in China.
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