Asian Tech Press (Nov 14) -- Chinese battery maker Sunwoda (300207.SZ) announced on Tuesday that it has signed a memorandum of cooperation with Germany's Siemens AG on sustainable development.

Sunwoda Electronic Co Ltd disclosed that on Nov. 6 in Shanghai, Siemens and Sunwoda signed a memorandum of understanding on cooperation in sustainable development.

The two companies will work together to develop solutions and value-added services that can serve China's battery industry with regard to the EU regulation on batteries and waste batteries, the Chinese battery maker noted.

Founded in 1997 and headquartered in Shenzhen, Sunwoda specializes in the R&D, design, manufacturing and sales of lithium-ion battery cells and modules.