CBAK Energy to Co-Develop Na-ion Cells with Chinese Battery Manufacturer

DALIAN, China, July 26, 2022 /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 that the Company has entered into an agreement with another Chinese high-tech battery maker who is one of the top players leading in the research and development of Na-ion battery to co-develop sodium-ion battery cells.

The sodium-ion battery chemistry is considered to be one of the most promising "beyond-lithium" energy storage technologies, particularly for large-scale electric vehicle and stationary applications. The two companies aim to leverage their respective cutting-edge R&D and production capabilities to jointly promote the mass production of cylindrical sodium-ion battery products. CBAK Energy will provide technical services with respect to battery cell production and testing under this partnership. CBAK Energy anticipates to produce samples in the second half of Year 2022.

Mr. Yunfei Li, Chief Executive Officer of CBAK Energy commented, "The cooperation is part of our continuous commitment to exploring new technologies and product innovation. Sodium-ion battery is drawing significant attention from the battery industry. We believe that this partnership will strengthen our competitiveness and further empower us to widen product offerings as we strive to become a major battery supplier for top light electric vehicle & electric vehicle producers."

About CBAK Energy

CBAK Energy Technology, Inc. is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include light electric vehicles, electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), 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 and Shaoxing, as well as a large-scale R&D and production base in Dalian.

For more information, please visit www.cbak.com.cn.

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For investor and media inquiries, please contact:

In China:

CBAK Energy Technology, Inc.
Investor Relations Department
Mr. Thierry Jiewei Li
Phone: 86-18675423231
Email: [email protected]

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SOURCE CBAK Energy Technology, Inc.