CBAK Strength Partners With Chengdu Raja to Jointly Develop Battery Swapping Venture and UPS Project

DALIAN, China, Jan. 25, 2021 /PRNewswire/ — CBAK Vitality Know-how, Inc. (NASDAQ: CBAT) (“CBAK Electricity”, or the “Business”), a primary lithium-ion battery producer and electric power remedy service provider, these days introduced that its wholly-owned subsidiary, Dalian CBAK Vitality Technological innovation Co., LTD (“Dalian CBAK”), not too long ago signed a just one-12 months strategic cooperation framework arrangement (the “Settlement”) with Chengdu Raja New Power Automotive Technology Co., Ltd. (“Raja”). As component of the Agreement, the two parties plan to jointly produce a battery swapping project for the foodstuff supply and logistics industries as effectively as an uninterruptible ability offer (“UPS”) undertaking for website traffic lights. Both equally events will use their respective aggressive positive aspects in their institution of a lengthy-term strategic cooperative relationship.

Raja is the initial Chinese producer of gentle electric powered vans commonly utilized in the logistics and distribution sector. In 2018, Raja additional to its item line electrical cars utilised in the trash collection business. These days, Raja has operations in seven Chinese towns, marketed over 5,000 electrical vans, and recognized above 3,500 electrical charging stations.

According to the Arrangement, Dalian CBAK will serve as an critical supplier to Raja and present the latter with large-excellent lithium-ion batteries. In the first year of the project, the demand from customers for battery cells is predicted to arrive at 1 million. The principal purpose of the battery swapping task is to give battery swapping products and services to groups of small-velocity electric car motorists all through the supply and logistics industries. As the net carries on to drive economic advancement, delivery solutions are more and more starting to be an indispensable element of existence. The battery swapping cupboard is made to address the challenges of significant batteries, inconvenient charging devices, and sophisticated battery substitution processes for all those riders employing lead-acid batteries, as well as to decrease the related charging protection risks through the utilization of an built-in cloud management and checking method. Individually, the UPS Project for targeted visitors lights supplies methods for people cases through which site visitors lights fall short for a transient interval of time, are nonfunctional because of to broken cables, or are not brilliant ample due to long-length ability provide transmissions, which often final result in visitors lights with a reduced or inconsistent offer of electrical ability.

About CBAK Power

CBAK Strength Technological innovation, Inc. is a leading high-tech business engaged in the growth, production, and gross sales of new vitality higher electric power lithium batteries. The programs of the Company’s products and options incorporate electrical cars, light-weight electric powered vehicles, electrical tools, electricity storage, uninterruptible power provide (UPS), and other substantial-electrical power apps. In January 2006, CBAK Electrical power became the to start with lithium battery company in China mentioned on the Nasdaq Stock Market. CBAK Vitality has several operating subsidiaries in Dalian and Nanjing, as properly as a significant-scale R&D and generation base in Dalian.

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This press release has ahead-on the lookout statements, which are matter to transform. The ahead-looking statements are created pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All “forward-wanting statements” relating to the small business of CBAK Power Technology, Inc. and its subsidiary organizations, which can be recognized by the use of ahead-searching terminology these as “thinks”, “expects” or related expressions, involve recognized and unknown pitfalls and uncertainties which could lead to true results to differ materially. These components involve but are not limited to: the capacity of the Business to meet its agreement or settlement obligations the unsure market place for the Firm’s lithium battery cells business, macroeconomic, technological, regulatory, or other things influencing the profitability of battery cells created for strength storage and dangers connected to CBAK Energy’s business and risks similar to running in China. Please refer to CBAK Energy’s Yearly Report on Sort 10-K for the fiscal calendar year ended December 31, 2019, as effectively as other SEC stories that have been filed considering the fact that the day of such once-a-year report, for unique particulars on chance elements. Presented these threats and uncertainties, you are cautioned not to spot undue reliance on forward-seeking statements. CBAK Energy’s true outcomes could vary materially from people contained in the forward-wanting statements. CBAK Energy undertakes no obligation to revise or update its forward-on the lookout statements in buy to mirror gatherings or conditions that may crop up soon after the day of this launch until expressly requested by applicable regulation.


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