CBAT - CBAK Energy and Kandi Group inks supply framework agreement

CBAK Energy Technology (CBAT) signed supply framework agreement with Zhejiang Kandi Vehicles, a wholly owned subsidiary of Kandi Technology (KNDI) in Hangzhou, Zhejiang province.The companies will promote the development of pure electric vehicles together and long-term strategic cooperation partnership would be built for the development, supply, and recycling of power batteries.Pursuant to the agreement, KNDI is planning to purchase RMB800M (about $120M) worth of battery pack system and customized battery manufacturing service in 2021.([[CBAT]] +12.4%), ([[KNDI]] -2.2%)

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CBAK Energy and Kandi Group inks supply framework agreement