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
