Aleees lists on OTC market; aiming to land new e-bus orders from China

Ninelu Tu, Taipei; Joseph Tsai, DIGITIMES   [Monday 9 December 2013]

Taiwan-based electric bus (e-bus) and lithium ferrous phosphate nano co-crystalline compound (LFP-NCO) cathode material maker Aleees has been officially listed on the local over the counter (OTC) stock market since December 9 and the company is currently in negotiation with China's provincial governments with the aim of landing new e-bus orders for 2014.

Since China's province governments are aggressively trying to increase the number of their electric buses to help improve their environment, Aleees expects its negotiation to see some results by March 2014.

Taiwan-based Ruentex Financial Group and foreign investors have a 21% and a 23% stake, respectively, in Aleees currently.

Aleees shipped about 1100 tons of LFP-NCO cathode materials in 2013 and most iron phosphate lithium battery makers in China are clients of the company.

Aleees has shipped 43 electric buses to Taiwan, accounting for 60% of the total volume. For the future, the company is cooperating with the Taiwan government to replace the existing 6,200 diesel buses in Taiwan over the next 10 years.