DALIAN, China, Dec. 7, 2020 /PRNewswire/ -- CBAK Energy
Technology, Inc. ("CBAK Energy", or the
"Company", NASDAQ: CBAT), a
leading lithium-ion battery manufacturer and electric energy
solution provider, announced that its wholly owned subsidiary,
Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK")
signed a joint development agreement with Wuxi Lead
Intelligent Equipment Co., Ltd.("LEAD"). The two parties plan to
jointly design and develop the automatic production line for
manufacturing tab-less power lithium batteries with high
efficiency, high stability and high intelligence. The main models of products that are expected to be manufactured on
this line are 4680, 46105, 32140, 34154,
34184 and 34200.
According to the agreement, CBAK energy will prioritize LEAD's automatic production line
to manufacture the above new power lithium-ion batteries. The
production line would support CBAK's 6 GWh capacity factory in
Nanjing, which produces power
lithium-ion batteries with high-performance, high-safety and high
energy density. After all production lines reach the production
capacity, we expect that the output
value of RMB 4 billion (approximately
$600 million) will be achieved.
According to the news released by the Company in September, CBAK
Energy has already successfully developed the large-sized tab-less
battery: model 32140, and achieved the capability of massive
production. The agreement with LEAD indicates that CBAK Energy is
actively deploying a standard production line for this model.
Large-sized 32140 battery is an important model developed by CBAK
Energy in recent years. Compared to previous model 26650, the
capacity of model 32140 has
increased by 5 times, energy density has grown by 25%, cost per
kilowatt hour has dropped by 20%. Under
model 32140, we intend to
release ternary, lithium iron phosphate and lithium
manganate system products at the same time to fulfill the need of
different market segments.
The cooperation of the two parties is based on CBAK Energy's
years of experience in lithium-ion battery technology development,
combined with the LEAD's advantage in high-tech power lithium-ion
battery manufacturing equipment design and development. The
cooperation of the two parties will promote the market-based
application of large-sized lithium-ion battery products and provide
safer and more consistent electricity power products.
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a 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 manufacturer in China
listed on NASDAQ in January 2006,
CBAK Energy possesses China's first production base specially
engaged in power battery, and has multiple operating subsidiaries
in both Dalian and Nanjing and a large-scale R&D and
production base in Dalian.
For more information, please visit www.cbak.com.cn.
About LEAD
Wuxi Lead Intelligent Equipment Co., Ltd., established in 2002,
has become the world's leading manufacturer of new energy
equipment. LEAD mainly focus on seven industry, including
Lithium-ion battery, Photovoltaic, 3C, warehouse & logistics
system, automobile,fuel cell and Laser. Currently, LEAD has
300,000+ square meters for manufacturing and R&D, 7500+
employees, including 1,600+ R&D engineers.
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 materially. 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, 2019, 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
unless expressly requested by applicable
law.
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SOURCE CBAK Energy Technology, Inc.