December 10, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — China BAK Battery, Inc. (CBAK – NASDAQ), Chinese maker of lithium-based battery cells, said that the company's wholly-owned subsidiary, BAK International Ltd., has received a subsidy of around $7.5 million for its automated high power lithium battery project from the National Development and Reform Commission and Ministry of Industry and Information Technology.

According to China BAK, the company's automated high power lithium battery project was previously selected as a key project of the PRC's National High Technology Research and Development Program, or "863 Program".

BAK International focuses on the research and development, manufacturing and distribution of high-power lithium battery cells for use in light electric vehicles and hybrid electric vehicles.

China-based China BAK Battery produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs.

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