Camel Group Gets 14 Million Yuan Subsidy for Lithium-ion Battery Project

Camel Group's wholly owned subsidiary Hubei Camel Special Power Co., Ltd. received 14 million yuan

BEIJING (SMM): Camel Group’s wholly owned subsidiary Hubei Camel Special Power Co., Ltd. received 14 million yuan ($2.28 million) of government subsidy for its motive power lithium-ion battery project, according to Camel Group’s statement filed to Shanghai Stock Exchange today.

50% of the subsidy has been paid to the company, and the rest half will be paid after the authority examines the progress of the project. The subsidy will contribute to Camel Group's profitability for 2014 fiscal year. 

Courtesy: www.metal.com