JINZHOU CITY, China, Sept. 28 /PRNewswire-Asia-FirstCall/ -- Wonder Auto Technology, Inc. (Nasdaq: WATG) ("Wonder Auto" or the "Company"), a leading manufacturer of automotive electrical parts, suspension products and engine accessories in China, today announced that one of its subsidiaries, Jinzhou Halla Electrical Equipment Co., Ltd (Jinzhou Halla), has entered into a joint development agreement with Shenzhen BYD Auto Company Limited ("Shenzhen BYD"). According to the agreement, Jinzhou Halla will design and develop alternator prototypes for Shenzhen BYD's sedan products (Model: BYD F3/F3R) with engine size between 1.3L and 1.5L, and sample deliveries will commence in Nov. 2009 for testing.
BYD F3/F3R is very popular in China at the moment. According to CAAM (China Association of Auto Manufactures), it ranked number one for the sales of a single car model for one quarter and for four single months during the first eight months of 2009.
"We believe BYD will play an important role in the development of the automotive industry in China. In December 2008, Wonder Auto entered into similar agreements to develop starters for BYD. The cooperation was successful and BYD is now one of our major customers for starters. This newly signed agreement for alternators again demonstrates our strong R&D capabilities and will also bring us at least 100,000 extra unit sales next year," commented Mr. Qingjie Zhao, Chairman and CEO of Wonder Auto. "Besides BYD, we are also actively cooperating with other major domestic and international auto and engine manufacturers for the development of new products. We believe such cooperation will help the company to include more quality manufacturers into our customer base and support the fast growth of our company."
About Wonder Auto
Based in Jinzhou City, Liaoning, China, Wonder Auto Technology, Inc., through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrical parts, suspension products and engine accessories. Wonder Auto was ranked second in sales revenue in the China market for automotive alternators and starters in 2008. With respective 5 different series and over 230 models of alternators, 150 models of starters, various suspension and engine related parts, the Company supplies to a wide range of automakers, engine producers and auto parts suppliers both in domestic China and overseas. Wonder Auto's main customers include Beijing MOBIS Auto Parts & Components Co., Ltd, Harbin Dongan Automotive Engine Co., Ltd, Shenyang Xinguang Huachen Auto Engine Co., Ltd, SWT, Shenyang Aerospace Mitsubishi Motors Engine Co., Ltd., Shanghai VW and Weifang Diesel Engine. For more information, please log on http://www.watg.cn .
Safe Harbor Statement
This press release may contain forward-looking information about Wonder Auto Technology, Inc. and its wholly owned subsidiaries which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, statements about industry trends and Wonder Auto Technology, Inc.'s future performance, operations and products. This and other "Risk Factors" are contained in Wonder Auto Technology, Inc.'s public filings with the SEC. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For further information, please contact:
Patrick Sun
Investor Relations Manager
Tel: +86-10-8478-5339
Cell: +86-153-1161-1742
Email: IR@watg.cn
