In the first half of 2017, Narada signed a long-term cooperation agreement with a European electric vehicle company for pure lithium iron battery system for electric vehicles. The total scale of the project about 800 MWH. Narada received the first batch of orders of 3.3 million US dollars recently.

It is reported that in order to meet the growing demand of environment friendly and quiet trucks of society, EU plans to cut carbon emissions by 40% by 2021 due to the city is dealing with air and noise pollution. Auto makers and technology companies around the world are scrambling for the market.

The partner of this project is a famous enterprise in Europe, which has years of experience in electric vehicle research and development.

With the increasing competition of the 1^st generation Green Vehicle, this company introduced an all-electric semi-trailer vehicle which greatly enhances the economy and environmental protection of power vehicles. This vehicle chose the lithium iron battery pack of Narada as its core power source.

Narada creatively developed the lithium iron battery system that suitable for pure electric vehicles. This system has the feature of high integrated, lightweight and refined power system design; the cycle life up to 3000 times; high energy density, and has the advantage of fast charging. In addition, the system has a strong environmental adaptability and can work at -20-60 ℃..

The pure electric vehicles not only can realize the quiet driving, zero CO₂ emission but also the operation cost will reduce 40% per kilometer.

Narada has already mastered the key technologies of battery materials, power systems and motive system, and has successfully completed series of product development and industrialization of lithium iron batteries for new energy vehicles. Narada has also further completed the development of the ternary soft pack power battery and system assembly on this basis, and a strong technology accumulation and system integration capability was formed.

The signing of this sales contract means that technical level and overall strength in the power lithium-ion battery system for electric vehicles of Narada have been highly recognized in the European industry, which further increasing the company's impact on the lithium-ion battery market for electric vehicles.

At the same tine, this project also provided important experience for the large-scale entry into the global electric vehicle market in the future, and promoted the development strategy of Narada in the field of power lithium-ion batteries for electric vehicles.

With the cooperation with key customers in the renewable energy automotive industry continued to deepen, Narada will achieve a grander ambition in this field in the future.