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CBAK Energy Enters Into Strategic Agreements with HiNa Battery and Hello Tech
- Becoming the First Company to Achieve Mass Production and Commercialization of Large Cylindrical Sodium Batteries DALIAN, China, June 28, 2023 /PRNewswire/
About this update from Cbak Energy Technology, Inc.
[{"type":"text","content":"- Becoming the First Company to Achieve Mass Production and Commercialization of Large Cylindrical Sodium Batteries \nDALIAN, China, June 28, 2023 /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 it has entered into strategic agreements with HiNa Battery, a unicorn and leading player in the sodium electricity industry, and Hello Tech, the parent company of Jackery, a premier global portable power supplier, respectively.\nIn accordance with the strategic agreement between CBAK Energy and HiNa Battery, a dedicated segment of CBAK Energy's sodium-ion battery production line will be allocated for HiNa Battery's use. In return, HiNa Battery will consistently provide CBAK Energy with top-tier cathode materials that exhibit unparalleled stability within the sodium electricity industry. Similarly, under the strategic agreement with Hello Tech, Hello Tech commits to enhancing its collaborative support for CBAK Energy.\nThe strategic agreements were announced during CBAK Energy's first Corporate Open Day in Nanjing, China. Among the 170 attendees were Shujun Li, General Manager of HiNa Battery, Wanghua Yuan, representative of Hello Tech, sell-side analysts from large international investment banks, Chinese private equity investors, existing and potential clients, other experts of the new energy industry, and representatives from financial media. Mr. Shujun Li took the stage at the event to speak about CBAK Energy's status as an industry pioneer, its prowess in the production of cylinder batteries, and the extent of the cooperation between the two companies. Mr. Wanghua Yuan spoke highly of the Company's position in the field of large cylinder batteries, reiterating the importance of its collaboration with CBAK Energy.\nIn addition, during the Corporate Open Day, CBAK Energy also announced that it is the first company in the world to achieve mass production of large cylindrical sodium batteries and a full-scale commercialization along the entire value chain from upstream to downstream. After testing the Company's sodium batteries' performance at low temperatures, the results showed that such batteries maintain 85% capacity at -40 degrees Celsius, while their fast charge and fast d...