DALIAN, China, Jan. 10, 2020 /PRNewswire/ -- Dalian CBAK Power
Battery CO., LTD., ("CBAK Battery", or the "Company") announced
that the Company and Viessmann Faulquemont SAS ("Viessmann") have
entered into a Supply Agreement. Under the agreement, Viessmann
undertakes to purchase lithium battery cells and other further
products from CBAK Battery.
CBAK Battery, a specialized high power battery provider in
Dalian, is a wholly-owned
operating subsidiary of CBAK Energy Technology, Inc. ("CBAK
Energy", or the "Company", NASDAQ: CBAT) which is a world's leading
lithium battery manufacturer and electric energy solution provider.
The LFP battery is one of CBAK Energy's most popular self-developed
products. It has outstanding performance in stability and safety,
and it has been used in various kinds of electric vehicles,
electric tools and energy storage, and has a good reputation with
these customers. CBAK Energy has been dedicated to the research and
development and commercial use of lithium batteries for more than
15 years.
About Viessmann
The Viessmann Group is one of the leading international
manufacturers of heating, industrial, and refrigeration systems.
This family enterprise was founded in 1917, has 12,000 employees,
and the group's turnover amounts to € 2.5
billion Euro. With 23 production companies in 12 countries,
distribution companies and representative offices in 74 countries
and 120 sales offices throughout the world, Viessmann is truly
international in its orientation. 54 percent of turnover is
generated abroad.
For more information, please visit www.viessmann.com.
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a global leading
high-tech enterprise engaged in the R&D, manufacture, and sales
of high power lithium batteries. The application of its products
and solutions covers such areas as electric vehicles, light
electric vehicles, electric tools, transportation and energy
storage. As the first lithium battery company in China to get listed in the U.S. in
January 2005, CBAK Energy possesses
China's first production base
specially engaged in power battery, and has its wholly-owned
subsidiary - Dalian CBAK Power Battery Co., Ltd., and a large-scale
R&D and production base in Dalian.
For more information, please visit www.cbak.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements, which
are subject to change. The forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All "forward-looking statements"
relating to the business of CBAK Energy Technology, Inc. and its
subsidiary companies, which can be identified by the use of
forward-looking terminology such as "believes", "expects" or
similar expressions, involve known and unknown risks and
uncertainties which could cause actual results to differ. These
factors include but are not limited to: the ability of the Company
to meet its contract or agreement obligations; the uncertain market
for the Company's lithium battery cells; business, macroeconomic,
technological, regulatory, or other factors affecting the
profitability of battery cells designed for energy storage; and
risks related to CBAK Energy's business and risks related to
operating in China. Please refer
to CBAK Energy 's Annual Report on Form 10-K for the fiscal year
ended December 31, 2018, as well as
other SEC reports that have been filed since the date of such
annual report, for specific details on risk factors. Given these
risks and uncertainties, you are cautioned not to place undue
reliance on forward-looking statements. CBAK Energy's actual
results could differ materially from those contained in the
forward-looking statements. CBAK Energy undertakes no obligation to
revise or update its forward-looking statements in order to reflect
events or circumstances that may arise after the date of this
release.
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SOURCE CBAK Energy Technology, Inc.