Our product testing and development phases are continuing to produce exceptional results as we move into 2013. As previously stated our current goal is to achieve power distribution of 95% with an end target of 98-99.9% power distribution by product launch. These improvements will significantly enhance the products usability, performance and functionality along with ultimately, saleability. As there are no current comparable products looking to provide the operating parameters we have set out in our product mission statement, we are confident the initial version being released to market will not only exceed expectations but will also provide a model/ format we will be able to adapt and diversify to encompass several ranges all of which will inherently be promoted through the brand and its affiliates.
Towards the second quarter of 2013 we expect to be field testing our U-Power Battery device in several geographic locations encompassing different temperature extremes to fully ensure the products performance and durability. We have secured several research companies to carry this out and many offer additional benefits such as product placement, marketing resources and potential licensing agreements. This in itself will enable our R&D teams to move closer to the final product and also our core business departments to solidify new relationships as we look to the future and the U-Power Batteries global launch.
We expect further interest with regards to financing over the course of the first two quarters of the year. Closing 2012 we were in talks with several institutions looking to secure additional investment for 2013. We will continue to seek further funding throughout 2013 until we believe the markets will react well to our listing. Our financial partners are fully behind this decision and agree that this is the right course of action to bring U-Power Batteries to market.
To find out more visit www.upower-batteries.com
U-Power Batteries Inc. is a wholly owned subsidiary of the ShenZhen Battery Co. Ltd. With our Headquarters and R&D Department based in Hong Kong we have been the spearhead of R&D for the Shenzhen Battery Co. Ltd.