Advanced Battery (ABAT)’s subsidiary Wuxi ZhongQiang (Autcycle) has signed two contracts this morning totaling $3.3 million for customers in Denmark and Indonesia.   One order is for 12,000 electric bikes with a contract value of $2.3 million and the 2nd order is for 2000 electric scooters with a total value of $1.1 million.  Deliver of the order is expected within the month. 

Zhiguo Fu, CEO of ABAT, said, “We are excited to announce the electric vehicle orders as it further demonstrates the expanding international scope of our operations. Equally satisfying is that these orders follow smaller orders from the customers who were satisfied with the quality, price and customer service of Wuxi ZQ. We continue to believe that ABAT and Wuxi ZQ are poised to benefit from the growing trend of consumers seeking electric and hybrid electric vehicles for their transportation needs.”

Take a look at the article Hannah wrote here in June regarding the exploding popularity of e-bikes in Asia.

Shares of ABAT aren’t moving on the news today.