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China BAK Battery selected to receive government grants for R&D, manufacturing

The Chinese Government has created a National High Technology Research and Development Program, dubbed the "863 Program," and one of the first funding recipients is China BAK Battery Corp. China BAK will be getting a grant of up $3.1 million, initially, from the federal government and more from local governments. The money will be used to fund R&D and commercialization efforts on China BAK's lithium phosphate battery technology. The hope is to get manufacturing of high-power batteries for electric and hybrid vehicles going as soon as ... Read more →

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