CBAK Energy Obtains $28 Million Battery Order from European Customer
September 22, 2022 at 09:00 am EDT
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CBAK Energy Technology, Inc. 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 28.4 million ($27.8 million). On May 13, 2022, CBAK Energy announced that it had received an order worth EUR 28.2 million ($29.3 million) from the same Customer. This new order will bring the total order value thatCBAK Energy has received from the Customer in 2022 to approximately EUR 59.6 million, among which the Company expects to deliver an approximately EUR 17.1 million of batteries to the Customer in 2022 and the rest in 2023.
CBAK Energy Technology Inc is a China-based investment holding company. The Company primarily operates through two segments. The CBAK's segment mainly includes the manufacture, commercialization and distribution of a wide variety of standard and customized lithium ion rechargeable batteries for use in a wide array of applications. The Hitrans' segment mainly includes the development and manufacturing of NCM precursor and cathode materials. The Company's products are sold to packing plants operated by third parties primarily for use in mobile phones and other electronic devices. Its products are used in various applications, including electric vehicles (EV), such as electric cars, electric buses, hybrid electric cars and buses and light electric vehicles (LEV), such as electric bicycles, electric motors and sight-seeing cars, and electric tools, energy storage, uninterruptible power supply (UPS), and other high power applications.
CBAK ENERGY TECHNOLOGY, INC. 