CBAK Energy Technology Inks Agreement With Nanjing Gaochun Economic Development Zone Over Large Cylindrical Sodium-Ion Battery Cells, Integrated Battery Systems In China

CBAK Energy Technology Limited (NASDAQ: CBAT) ("CBAK Energy" or the "Company"), a China-based lithium-ion battery manufacturer and energy solutions provider, today announced that it has signed an investment agreement with the Nanjing Gaochun Economic Development Zone for the research, development and manufacture of large cylindrical sodium-ion battery cells and integrated battery systems in Nanjing, Jiangsu Province. The project would add 12 gigawatt-hours ("GWh") of annual cell production capacity, advancing the Company’s previously announced sodium-ion expansion plan.