CBAK Energy Signs Investment Agreement for 12 GWh Sodium-Ion Battery Project in Nanjing

Sept. 23 (Reuters) - CBAK Energy Technology Ltd. CBAT.O:

• CBAK Energy signs investment agreement for a 12 GWh sodium-ion battery project in Nanjing.
• CBAK Energy Technology said the project will add 12 GWh of annual cell production capacity.
• The company targets an additional 6 GWh of annual cell capacity at its Nanjing facility by year-end 2026.
• CBAK Energy Technology said the additional 6 GWh could generate RMB2.4 billion to RMB2.7 billion (US$356 million to US$400 million) in annual revenue.
• The 12 GWh project could generate RMB4.8 billion to RMB5.0 billion (US$712 million to US$741 million) in additional annual revenue.
• CBAK Energy Technology plans to advance the 12 GWh project in the second half of 2027, subject to financing.