Article: LYRUN MATERIAL TO TAP INTO ELECTRIC CAR BATTERY INDUSTRY


AsiaInfo Services
07-22-2008
Lyrun Material to Tap into Electric Car Battery Industry

CHANGSHA, Jul 22, 2008 (SinoCast via COMTEX) -- Changsha Lyrun Material Co., Ltd. (SHSE: 600478), a company specializing in R&D, production and sales of continuous belt foamed nickel and series products, signed an agreement on July 20, 2008 with EVB Technology (HK) Limited on setting up a joint venture to produce nickel-hydrogen battery pack and automotive engineering energy pack for hybrid electric vehicles.

The venture will have total investment of CNY 50 million, CNY 37.5 million from the Changsha-based company and CNY 12.5 million from the Hong Kong-based company.

The first phase project is designed ...

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