SAN FRANCISCO and SHENZHEN, China, May 6,
2015 /PRNewswire/ -- Highpower International, Inc.
(NASDAQ: HPJ), ("Highpower," or the
"Company") a developer, manufacturer, and marketer of lithium
and nickel-metal hydride (Ni-MH) rechargeable batteries, and a
battery management systems and battery recycling provider, today
announced that its large format lithium batteries are now installed
on 155 hybrid electric buses in China as of March 31,
2015, mostly being operated in municipal areas in
Shanghai.
In the first quarter of 2015, the Company's large format lithium
batteries were installed on another 74 hybrid electric buses in
additional to 81 buses installed in 2014. The hybrid electric
buses are mainly manufactured by Shanghai Wanxiang Daewoo, a
Chinese and Korean automobile joint venture.
According to market data estimates, there are around 1.5 million
buses in operation in China today,
with a mandate that they can only be on the road for eight years.
This equates to a changeover market of around 190,000 buses every
year in China, without taking into
account any growth.
Today, only 6% of the Chinese population owns a vehicle. The
figure is growing, but 94% of 1.4 billion people still need
transportation, and they do this largely by bus. A recent
announcement stipulated that starting in 2016, 20% of government
vehicle purchases must have zero emission technology. A report by
Navigant Research, by 2018 it is expected that 75,000 electric
buses will be on the roads globally, with the Asia-Pacific market making up 75% of the
market.
Mr. George Pan, Chairman and CEO
of Highpower, commented, "Electrical transportation is a strategic
and important market for Highpower. China's central and local governments are
committed to fighting air pollution. Since our large format lithium batteries
were certified by China's National
Quality Control & Inspection Center for Buses last August, we
have been actively exploring the electric bus market in
China along with our partners. We
are optimistic about the growth opportunities of the market in the
coming years."
About Highpower International, Inc.
Highpower International was founded in 2001 and produces
high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based
rechargeable batteries used in a wide range of applications such as
electric buses, bikes, energy storage systems, power tools, medical
equipment, digital and electronic devices, personal care products,
and lighting. Highpower's target customers are Fortune 500
companies, and top 10 companies in each vertical segment. With
advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou, China.
Highpower is committed to clean technology, not only in the
products it makes, but also in the processes of production. The
majority of Highpower International's products are distributed to
worldwide markets mainly in the United
States, Europe,
China and Southeast Asia.
Forward Looking Statements
This press release contains "forward-looking statements"within
the meaning of the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995 that are not
historical facts. These statements can be identified by the
use of forward-looking terminology such as "believe," "expect,"
"may," "will," "should," "project," "plan," "seek," "intend," or
"anticipate" or the negative thereof or comparable terminology, and
include discussions of the Company's future performance, operations
and products. Such statements involve known and unknown
risks, uncertainties and other factors that could cause the
Company's actual results to differ materially from the results
expressed or implied by such statements, including, our ability to
successfully expand sales of our lithium battery product in the
mobile device market and our ability to effectively compete in that
market. For a discussion of these and other risks and
uncertainties see "Risk Factors "and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in
the Company's public filings with the SEC. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice
President
+1 (212) 836-9606
aprior@equityny.com
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SOURCE Highpower International, Inc.