CBAK Energy Receives $28 Million Battery Order from European Customer

CBAK Energy Technology, Inc. announced that the Company has received an order from a leading European provider of heating, cooling and renewable energy systems for a supply of lithium-ion batteries worth EUR 28.4 million ($27.8 million).

Previously CBAK Energy announced that it had received an order worth EUR 28.2 million ($29.3 million) from the same Customer.

This new order will bring the total order value that CBAK Energy has received from the Customer in 2022 to approximately EUR 59.6 million, among which the Company expects to deliver an approximlately EUR 17.1 million of batteries to the Customer in 2022 and the rest in 2023.

The Customer has a global presence with annual sales of billions of Euros. CBAK Energy has been supplying batteries to the Customer since 2020.

Yunfei Li, Chief Executive Officer of CBAK Energy commented, "Our contact with this Customer started in 2018. After several rounds of due diligence on our supply chain and tests on our product quality, we are very pleased to see this Customer has ordered a significant amount increasing number of batteries from us. As always, we will make efforts to maintain and enhance our product quality and to expand the global market."