The additional capacity would lift the company to fifth, behind only LG Chemical (17.0 GWh of capacity), BYD (16.0 GWh), Panasonic (8.5 GWh) and AESC (8.4 GWh). Chinese lithium-ion battery maker CBAK announced an agreement that implies financial help is on the way to expand the company's production capacity. By Roberto Pedone. 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. 4 Stocks Under $10 to Trade for Breakouts. Details are a little thin. Rather than using local government support to jobs and economic growth in a city, an EDZ relies on foreign investment and bond issues to pay the bill. Copyright© Dalian CBAK Power Battery Co., Ltd ｜ Technical support：zhiyuanit, Address: No. The application of its products and solutions covers such areas as electric vehicles, light electric vehicles, electric tools, transportation and energy storage. In addition, CBAK has over ten years of experience in manufacturing batteries. The answer, of course, is only with a lot of help, both financial and political. In addition, CBAK has over ten years of experience in manufacturing batteries. Through continuous research and innovation for nearly ten years, output of CBAK power battery presents exponential growth. Our power battery cells are characterized by stable structure, excellent heat dissipation, high-energy density achieving lightweight battery and low combustible value as well as safe flame retardant spacing, achieving excellent quality and meeting the demand of stable, consistent and continued escort. "With this investment, CBAK Energy's battery business will significantly contribute to not only the local economy but the development of the Chinese new energy industry chain.". "CBAK Energy has developed a large number of high-quality customers around the world, especially in China, Europe and the United States. CBAK Energy owns diversified power battery cell products integrated under the mature industry, as well as commercialized batch manufacturing capacity. Economic Development Zone (EDZ) funding is not the same as local government development funds such as the agreement recently reached between electric vehicle maker Nio Ltd. (NYSE: NIO) and the government of its home city of Hefei. This press release contains forward-looking statements, which are subject to change. 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. 11 Meigui Street (East), Huayuankou Economic Zone, Dalian, China, 116450. Why China Bak Battery (CBAK) Hit a One-Year High Today. View original content:http://www.prnewswire.com/news-releases/cbak-energy-planned-investment-in-lithium-battery-project-in-jiangsu-province-china-301085030.html, http://www.prnewswire.com/news-releases/cbak-energy-planned-investment-in-lithium-battery-project-in-jiangsu-province-china-301085030.html, Stock market news live updates: Stocks rise as traders hope final stimulus effort yields a deal, AMC Entertainment to Sell Stock Amid Bankruptcy Warning, U.S. prepared to meet immediately with Russia on nuclear arms control -State Department, EU’s First Social Bonds Smash Global Records for Debt Demand, TREASURIES-Yields rise as Trump boosts stimulus hopes. When investors think of electric vehicles and the huge stock... Jefferies sees absolutely no slowdown in sight for the top data... Wednesday's top analyst upgrades and downgrades included Apple,... 24/7 Wall St. reviewed the estimated net worth of sitting U.S.... During the first debate between President Donald Trump and... ALSO READ: 4 Top Jefferies Picks for Massive Upside Ahead. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The question becomes how a company with a market cap of around $53 million competes with LG Chem’s $30 billion or Panasonic’s $20 billion valuations. Dalian CBAK Power Battery Co. ltd, located in Dalian, Liaoning, China, is a subsidiary of CBAK Energy Technology, Inc. which listed in Nasdaq in 2006 (Nasdaq: CBAT). At present, CBAK Energy achieves an annual output of 1 billion WH, which can provide power support for 20,000 new energy vehicles. At present, a variety of productive lines go shoulder to shoulder, and our products cover 18650, 26650, 26700 and other models of batteries. CBAK traded more than 2 million shares in the first 90 or so minutes of trading Monday, well above its average volume of around 127,000. 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. DALIAN, China, Sept. 15, 2020 /PRNewswire/ -- CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Power Battery CO., LTD., ("CBAK Battery", or the "Company") has successfully entered into the supplier base of Haier Group … Feb 28, 2014 12:17 PM EST. The company established BAK International (Tianjin) Co., Ltd. and Dalian CBAK Power Battery Co., Ltd. in 2006 and 2013, respectively, which are the first batch of the enterprises specializing in the R & D and production of high-power lithium ion batteries in China. In 2005, CBAK Energy Technology, Inc. set foot in the field of power lithium ion battery, and built the first full-automatic 18650 battery production line in China. Dec 6, … A Chinese lithium-ion battery maker announced Monday that it has reached a framework agreement with an economic development firm for financing. DALIAN, China, June 29, 2020 /PRNewswire/ -- CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, China BAK Asia Holdings Limited (the Company) entered into a framework investment agreement with Jiangsu Gaochun Economic Development Zone Development Group Company ("Gaochun EDZ"), pursuant to which the Company intend to develop certain lithium battery projects that aim to have a production capacity of 8Gwh. CBAK Energy's actual results could differ materially from those contained in the forward-looking statements.
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