CBAK Partners with Hello Tech to Advance Sodium-ion Battery R&D
CBAK Energy Technology announced that it has entered into a strategic agreement to advance its sodium-ion battery R&D program with Shenzhen Hello Tech Energy Co., Ltd., the parent company of Jackery.
June 03, 2023. By News Bureau
This collaboration solidifies CBAK Energy's trajectory toward becoming the world's first enterprise capable of producing large cylindrical sodium-ion batteries on a massive scale.
Under the terms of the Agreement, Hello Tech will invest RMB25 million into CBAK Energy for the research and development of sodium-ion batteries, 30% of which the Company has already received.
In addition, Hello Tech will become CBAK Energy's first client for its sodium-ion batteries, with orders potentially worth several hundred million RMB once CBAK Energy's sodium-ion battery is ready for mass production, which is expected to fortify the Company's position as a pioneer in the commercialization of sodium-ion batteries.
Yunfei Li, Chairman and Chief Executive Officer of CBAK Energy, commented, "We are delighted to form a long-term strategic partnership with Hello Tech, a prestigious global player in the portable energy supply industry. We look forward to bringing our proven expertise in battery development and production to this unique cooperation, which will play a pivotal role in our ambitious sodium-ion battery strategy. Our extensive technology assets, innovation capabilities and industrial know-how combined with Hello Tech's complementary resources will provide an impressive framework to support cutting-edge sodium-ion battery technology development, granting us a considerable first-mover advantage in this fast-growing market."
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