CBAK Energy Forms Strategic Partnership with Anker Innovations to Establish Battery Cell Manufacturing Facility in Malaysia, with Potential Orders Valued at Up to US$357 Million
Rhea-AI Summary
CBAK Energy (NASDAQ: CBAT) has announced a strategic partnership with Anker Innovations to establish a battery cell manufacturing facility in Malaysia. The partnership includes potential orders valued at up to $357 million for CBAK's LFP cylindrical battery models 32140 and 40135.
The Malaysian facility is scheduled to begin mass production by the end of 2025, with construction starting immediately. CBAK Energy has already completed the registration of its Malaysian entity and plans to begin facility renovation next month.
This partnership builds on an existing relationship where Anker Innovations, a global leader in intelligent hardware, has become CBAK's largest customer since 2022, primarily purchasing Model 32140 LFP cylindrical batteries for portable energy storage products in the U.S. market.
Positive
- None.
Negative
- Significant capital investment required for Malaysian facility construction
- Execution risks associated with international expansion
- Heavy reliance on single customer (Anker) for significant portion of business
News Market Reaction
On the day this news was published, CBAT declined 0.84%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
DALIAN, China, June 30, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy" or the "Company"), a leading manufacturer of lithium-ion and sodium-ion batteries and comprehensive electric energy solutions in China, today announced that its wholly-owned subsidiary, China BAK Asia Holdings Limited ("China BAK"), has entered into a significant strategic partnership (the “Partnership”) with Anker Innovations Technology Co., Ltd. (Shenzhen Stock Exchange: 300866, “Anker Innovations”), a global leader in intelligent hardware and one of CBAK Energy’s largest customers. As part of this Partnership, CBAK Energy will establish a new battery cell manufacturing facility in Malaysia (the “Malaysian Project”), with construction beginning immediately. The facility is expected to commence mass production of the Company’s flagship LFP cylindrical battery models, 32140 and 40135, by the end of 2025.
In recognition of CBAK Energy’s commitment to expanding its global manufacturing presence, Anker Innovations and CBAK Energy have established a long-term cooperation framework, with potential orders valued at approximately US
CBAK Energy has completed the registration of its Malaysian entity and expects to begin facility renovation as early as next month.
Zhiguang Hu, Chief Executive Officer of CBAK Energy, commented, “We are thrilled to enter into this strategic partnership with Anker Innovations, a highly respected and globally recognized brand. This long-term order commitment, along with substantial prepayments, reflects Anker’s strong confidence in our technical capabilities, product performance, and manufacturing quality. We are fully committed to allocating all necessary internal resources to ensure the successful launch of the Malaysian Project and the fulfillment of this transformative order.”
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 batteries and 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, 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 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 our future results of operations and financial position, strategy and plans, and our 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. We have 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. Our actual results 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
Email: ir@cbak.com.cn
FAQ
What is the value of CBAK Energy's (NASDAQ: CBAT) partnership with Anker Innovations?
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What type of batteries will CBAK Energy (CBAT) manufacture in Malaysia?
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