China to be global leader in EV batteries by 2015

China Ritar Power announced today that its lead acid batteries have the ability to power an electric motor vehicle for up to 90 miles without recharging.

The Shenzhen, China-based company has secured deals with 28 different manufacturers to provide batteries for their electric vehicles.  Some of the manufacturers include Shenzhen Greenwheel Electric Vehicle; Wonder Auto Technology; Shenzhen Aoxiang Industrial Development; Shenzhen Ziyouda Electric Vehicle; Advanced Transportation Energy Center; Maurer Elektromaschinen; Ajanta Group; ITP Infotech; Ultra Motor India; Tube Investments of India; Boston Golf; and Alco Battery Sales.  The total dollar amount for the orders was not released.

Pike Research is reporting that China will be the global leader in electric vehicle charging equipment, accounting for nearly 50% of annual sales by 2015.  The increase in demand for electric vehicles has created a growing market for long lasting, high performance battery technology.

China Ritar's batteries are capable of powering electric vehicles for up to 90 miles without needing to be recharged.  Additionally the batteries cost about half the price of batteries produced by international manufacturers.  Currently the company sells their batteries in over 81 countries including China, India, and various distributors in Europe and the Americas.

Shenzhen Greenwheel Electric Vehicle, one the biggest EV producers in China, is currently building a new industrial park in Wuxi, China.  The plant will be able to produce 50,000 electric cars a year.

"Once Shenzhen Greenwheel Electric Vehicle begins manufacturing electric vehicles at the new industrial park, we expect to receive orders worth up to $15 million," said Jiada Hu, CEO of China Ritar.