China Innovation invests in U.S. battery firm

Updated 2018-01-16 13:51:01

China Innovation Investment has entered into a framework agreement to purchase shares in California-based battery producer Power Solutions Energy Inc, according to media reports on Monday.

Under the agreement, China Innovation would buy an undisclosed amount of shares in Power Solutions through cash and/or convertible bond issues, sina.com said on Monday, citing a company statement.

Power Energy has technologies that could improve the capacity of lithium-ion batteries by 80 percent, according to the report.

Following the news, China Innovation's share price rose by 19.23 percent at the market close on Monday.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 19 2018 18:05:08

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 19 2018 18:05:08

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 19 2018 18:05:08

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords