Cbak Energy Tech (WKN: A2DKLR)
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CBAK Energy Technology, Inc., together with its subsidiaries, develops, manufactures, and sells lithium batteries in Mainland China, the United States, Korea, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools. The company was formerly known as China BAK Battery, Inc. and changed its name to CBAK Energy Technology, Inc. in January 2017. CBAK Energy Technology, Inc. was incorporated in 1999 and is based in Dalian, China.
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DALIAN, China, May 13, 2022 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that the Company has received an order from a leading European provider of heating, cooling and renewable energy systems (the "Customer"), for a supply of lithium-ion batteries worth EUR 28.2 million ($29.3 million).
Pursuant to the order, CBAK Energy will ship approximately 13.9 million units of batteries to the Customer. This will bring the total order value CBAK Energy has received from the Customer in 2022 to approximately EUR 31.2 million, for which the Company will deliver the products this year and next.
The Customer has a global presence with annual sales of billions of Euros. CBAK Energy has been collaborating with the Customer since 2020. In 2022, CBAK Energy is expected to deliver 9.9 million units of batteries to the Customer for estimated EUR 17.1 million.
Mr. Yunfei Li, Chief Executive Officer of CBAK Energy commented, "We are very pleased to increase our supplies to this valued Customer and partner. We will continue to expand the global market for our reliable high power lithium batteries, which are well suited to a variety of applications."
About CBAK Energy
CBAK Energy Technology, Inc. is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian and Nanjing, as well as a large-scale R&D and production base in Dalian.