China BAK Battery, Inc. ("China BAK", the "Company", or
"we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced
that the Company’s Shenzhen-based subsidiary entered into a strategic cooperation program for electric vehicle
("EV") development with Hua-chuang Automobile Information Technical Center Co., Ltd.
("HAITEC"), a subsidiary of Yulon Group, Taiwan’s largest automaker.