DALIAN,
China, June 4, 2024 /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 a significant technological advancement with its model
32140 battery, a large cylindrical lithium-ion battery mass
produced at its Nanjing
facility.
The Company has successfully upgraded and innovated the battery
structure, adopting a brand-new design based on the original
battery cell structure. This upgrade has enabled the model 32140
large cylindrical battery to increase its fast-charging capability
from the original 0.8C fast charging rate and a full charge in 75
minutes to a 1.8C fast charging rate and a full charge within just
35 minutes, achieving 1.25 times faster charging speed.
Additionally, the battery's cycle life under high-current charge
and discharge has doubled, enhancing the overall durability and
efficiency of the product. CBAK Energy has filed a patent
application for this novel technology with the relevant authorities
in China, anticipating imminent
approval.
The model 32140 large cylindrical battery is currently one of
the most mature large cylindrical battery solutions on the market.
Since commencing mass production in the second half of 2021, it has
undergone more than two years of market validation, leading to a
significant increase in sales. With the integration of innovative
technologies facilitating the product iterations and upgrades,
alongside the addition of new clients, the Company anticipates a
substantial increase in sales of this product in key markets such
as India and China this year.
Yunfei Li, Chairman and Chief
Executive Officer of CBAK Energy, commented: "We are thrilled to
announce this meaningful advance in our model 32140 battery. The
enhanced fast-charging capability underscores our commitment to
innovation and meeting the evolving needs of our clients. This
breakthrough not only sets a new benchmark in the industry but also
reinforces CBAK Energy's position as a leader in battery
technology. We look forward to continuing to drive progress and
deliver superior energy solutions."
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading
high-tech enterprise in China
engaged in the development, manufacturing, and sales of new energy
high power lithium and sodium batteries, as well as the production
of raw materials for use in manufacturing high power lithium
batteries. The applications of the Company's products and solutions
include electric vehicles, light electric vehicles, energy storage
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, Nanjing, Shaoxing and Shangqiu, as well as a
large-scale R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
release, including statements regarding the Company's future
results of operations and financial position, strategy, plans, and
expectations for future operations, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. The Company has attempted to identify forward-looking
statements by terminology including "anticipates," "believes,"
"can," "continue," "could," "estimates," "expects," "intends,"
"may," "plans," "potential," "predicts," "should," or "will" or the
negative of these terms or other comparable terminology. Actual
results of the Company may differ materially or perhaps
significantly from those discussed herein, or implied by, these
forward-looking statements.
The forward-looking statements included in this press release
are made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Phone: +86-18675423231
Email: ir@cbak.com.cn
Piacente Financial Communications
Ms. Hui Fan
Tel: +86-10-6508-0677
Email: CBAK@thepiacentegroup.com
In the United
States:
Piacente Financial Communications
Ms. Brandi Piacente
Tel: +1-212-481-2050
Email: CBAK@thepiacentegroup.com
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SOURCE CBAK Energy Technology, Inc.