DALIAN, China, Dec. 21, 2021 /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 its wholly-owned subsidiary CBAK New Energy
(Nanjing) Co., Ltd. ("CBAK
Nanjing") has entered into an agreement with AZAPA R&D China
("AZAPA") to develop a customized battery pack for the Sino-Japan
joint venture that designs and produces electronic control systems
and battery and control systems for electric vehicles.
Pursuant to the agreement, this battery pack will initially be
used for testing low-speed electric
vehicles produced by Daihatsu Motor Co., a subsidiary of Toyota
Motor Corporation, while CBAK Nanjing will cooperate with
AZAPA to jointly explore international markets. CBAK will deliver
three sample battery pack sets to AZAPA by February 2022.
Mr. Yunfei Li, Chief Executive
Officer of CBAK Energy commented, "We are very delighted to have
partnered with AZAPA. The designation of developing the battery
pack demonstrates new recognition and trust from the industry in
our cutting-edge technology capabilities and empowers us to broaden
product offerings for electric vehicles."
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.
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
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 most
recent Annual Report on Form 10-K, 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.
For investor and media inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Mr. Thierry Jiewei Li
Phone: 86-411-39185985
Email: ir@cbak.com.cn
The Blueshirt Group
Ms. Feifei Shen
Phone: +86 13466566136
Email: feifei@blueshirtgroup.com
The Blueshirt Group
Ms. Suwen Feng
Phone: +86 13917110134
Email: suwen@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227
Email: Julia@blueshirtgroup.com
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SOURCE CBAK Energy Technology, Inc.