CBAK Energy Forms Strategic Partnership with Anker Innovations to Establish Battery Cell Manufacturing Facility in Malaysia, with Potential Orders Valued at Up to US$357 Million

Core Insights - CBAK Energy Technology, Inc. has entered a strategic partnership with Anker Innovations to enhance its global manufacturing presence and establish a new battery cell manufacturing facility in Malaysia [1][2] - The partnership includes potential orders valued at approximately US$357 million, with a focus on the Model 32140 LFP cylindrical batteries [2] - CBAK Energy aims to commence mass production of its flagship battery models by the end of 2025 [1][3] Company Overview - CBAK Energy is a leading manufacturer of lithium-ion and sodium-ion batteries in China, with applications in electric vehicles, energy storage, and other high-power uses [5] - The company has multiple subsidiaries and a large-scale R&D and production base in Dalian, China [5] - CBAK Energy became the first lithium battery manufacturer in China to be listed on the Nasdaq Stock Market in January 2006 [5] Partnership Details - The partnership with Anker Innovations signifies a long-term cooperation framework, reflecting Anker's confidence in CBAK Energy's technical capabilities and manufacturing quality [2][4] - Anker Innovations has been increasing its procurement of battery cells from CBAK Energy since 2022, making it the company's largest customer [2] - The Malaysian Project is expected to deepen the collaboration between the two companies [2]