Industries International, Inc., a manufacturer and distributor of telephones, telecommunications-related technology and lithium batteries in China, recently announced that its wholly-owned subsidiary Li Sun Power has entered into an agreement to develop hybrid vehicles jointly with Dongfeng Automobile Company, Ltd., China's second-largest auto manufacturer.
Li Sun Power produces a high-power lithium-ion (Li-Ion) battery that has a number of diverse commercial uses such as mobile phones, laptops, and PDAs. It has been successfully tested this year in both electric and multi-power (gas-electric hybrid) vehicles. Li Sun, acquired by Industries International in May 2003, is one of China's largest manufacturers of lithium and lithium-ion (Li-ion) batteries.
"For Industries International, the new hybrid vehicle partnership with Dongfeng promises to accelerate Li Sun's already fast growth as a seller of batteries to growth industries such as mobile communications, laptop computing and, now, the production of energy-efficient electric and hybrid vehicles," said Dr. Kit Tsui, Chief Executive Officer of Industries International.