CBAK Energy Announces $11.6 Million Order from Africa’s largest EV player

By: CBAK Energy Technology, Inc. via GlobeNewswire

June 09, 2025 at 09:00 AM EDT

DALIAN, China, June 09, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that its wholly-owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd. ("Nanjing CBAK"), has received a sizeable order from Africa’s largest EV player with the fastest energy distribution network aided by battery swapping.

The order, valued at approximately US$11.6 million, primarily comprises CBAK Energy’s advanced Model 32140 large LFP cylindrical batteries. Looking ahead, the Company anticipates follow-on orders from this customer totaling up to US$55 million. As part of this strategic partnership, CBAK Energy will continue to supply its high-performance Model 32140 batteries for integration into the customer’s rapidly expanding fleet of electric motorcycles across the African continent. This collaboration underscores a shared commitment to accelerating the adoption of sustainable mobility solutions in emerging markets.

This customer is Africa’s leading electric vehicle (EV) company, revolutionizing the continent’s transportation sector. Renowned for its groundbreaking battery-swapping technology and electric motorcycles specifically designed for African roads and riders, the customer is driving a transformative shift away from imported, fossil fuel-based transport. By delivering affordable, accessible, and locally manufactured electric mobility solutions—made in Africa, by Africans, for Africa and the world—it is redefining sustainable transportation across the region.

"We are excited to partner with this customer to support their mission of promoting electric mobility in Africa," said Zhiguang Hu, Chief Executive Officer of CBAK Energy. "This significant order not only highlights the growing demand for our high-quality battery solutions but also reinforces our strategic focus on expanding our market presence in emerging regions. We look forward to contributing to the sustainable development of the electric mobility sector in Africa and beyond."

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.

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