Boston-Power to supply battery systems to Beijing Electric Vehicle company

6357 Boston-Power, a provider of next-generation lithium-ion battery cells, modules and systems, has announced a multi-year agreement to provide battery systems to Beijing Electric Vehicle Company (BJEV), the electric vehicle delivery arm of 6358 Beijing Automotive Industry Company (BAIC). Under terms of the agreement, Boston-Power’s battery systems are expected to support multiple BJEV models and brands. Availability of pre-ordered vehicles begins in fourth calendar quarter 2012 with the C70 sedan, which is based on the 9-5 SAAB chassis BAIC acquired in 2009.

“China’s stated policy is to lead the world in the development of clean transportation and we intend to produce thousands of hybrid and electric vehicles,” said Fang Qing, general manager of Beijing Electric Vehicle Company. “We are impressed with Boston-Power’s green and high performing technology. We welcome the opportunity to work with the company and our other key suppliers to bring EVs to consumers in China and around the world.”

According to 5644 Pike Research, the market for Li-ion batteries for transportation will grow from US$2 billion annually in 2011 to more than $14.6 billion by 2017. The research firm points to China and the US as the two markets currently best positioned to enjoy the strongest growth rates for EV adoption. Notably, China is recognised in the report for being a world leader in instituting government policies to incentivise consumer adoption of EVs.