CBAK Energy Bags $29 Mn Li-Ion Battery Supply Order from European Customer

CBAK Energy Technology, Inc. announced that the Company has received an order from a leading European provider of heating, cooling and renewable energy systems, for a supply of lithium-ion batteries worth EUR 28.2 million.

Pursuant to the order, CBAK Energy will ship approximately 13.9 million units of batteries to the Customer. This will bring the total order value CBAK Energy has received from the Customer in 2022 to approximately EUR 31.2 million, for which the Company will deliver the products this year and next.

The Customer has a global presence with annual sales of billions of Euros. CBAK Energy has been collaborating with the Customer since 2020. In 2022, CBAK Energy is expected to deliver 9.9 million units of batteries to the Customer for estimated EUR 17.1 million.

Mr. Yunfei Li, Chief Executive Officer of CBAK Energy commented, "We are very pleased to increase our supplies to this valued Customer and partner. We will continue to expand the global market for our reliable high power lithium batteries, which are well suited to a variety of applications."