Under the agreement, Customer S undertakes to purchase from CBAK Energy for no less than 19 million units of 26650 lithium batteries in 3 years from 2019 to 2021, for use in Li-Ion based energy storage products. CBAK Energy will supply the batteries through its wholly-owned operating subsidiary, Dalian CBAK Power Battery Co., Ltd., a specialized high power battery provider in Dalian.
The 26650 lithium battery is one of CBAK Energy’s most popular self-developed products. It has outstanding performance, such as stability and safety, which has been used in various kinds of electric vehicles, electric tools and energy storage, and has a good reputation with these customers. CBAK Energy has been dedicated to the research and development and commercial use of lithium batteries for more than 15 years.
“We are glad to enter into the large-quantity purchase contract with Customer S, which reflects the global market recognition of our battery products for use in energy storage. It encourages us to continue investment in the R&D of lithium batteries and expansion of battery production lines. It is a good beginning for year 2019, and with the surging energy storage markets, we believe we will enter into more lithium battery agreements with customers,” commented Mr. Yunfei Li, the CEO of CBAK Energy.
Source: Company Press Release
