- CBAK Energy Technology Inc CBAT commenced operations at its lithium battery manufacturing plant in Nanjing in China's Jiangsu province.
- The plant is equipped with an initial annual capacity of 0.7 GWh for the company's new 32140 battery model that targets the light electric vehicle (LEV) and electric vehicle sectors.
- Additionally, CBAK Energy is on track to complete the first construction phase for its Nanjing facility by the end of 2022.
- CBAK Energy raised the planned capacity for the project's second phase to 18 GWh per year from the original 6 GWh per year to meet growing customer demands. The company plans to begin construction of the second phase by year-end.
- CBAK has also started operating a new production line at its Dalian facility to make an annual 0.4 GWh of its new 26700 battery model.
- Price Action: CBAT shares are trading higher by 3.92% at $2.12 on the last check Friday.
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