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CBAT - CBAK Energy inks agreement with bus manufacturer
CBAK Energy Technology Inc.
CBAK Energy Technology ([[CBAT]] -2.8%) announced that its wholly owned subsidiary, Nanjing CBAK New Energy Technology, signed an ~$1.4M product framework agreement to supply battery systems for 10.5M electric buses to Sichuan Guohong Automobile.Post the agreement, Nanjing CBAK will supply 30 sets of battery systems in 12 months."We are very pleased to witness the growing demand in battery system of electric vehicles and rapid development of the electric vehicle market in China," CEO Mr. Yunfei Li commented.