CBAT - CBAK Energy plans production capacity expansion

CBAK Energy Technology ([[CBAT]] +5.8%) pops at the open after detailing plans to expand its production capacity in its Chinese manufacturing plants in anticipation of increasing client orders.For its Nanjing manufacturing plants, the company plans to attain a total capacity of 8 GWh/year to produce lithium batteries, and expects to complete phase 1 by the end of 2022 to reach an annual production capacity of 2 GWh.As part of phase 1 construction, CBAK plans to invest RMB70M to develop a production line with annual capacity of 0.7 GWh for its new model 32140 batteries, which is expected to be put in operation in H2 2021 to produce 50K model 32140 batteries per day.In addition to its capacity expansion in Nanjing, CBAK also expects to invest RMB50M in its manufacturing plants in Dalian to add a production line with an annual capacity of 0.4 GWh to produce 100K additional model 26650 batteries

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CBAK Energy plans production capacity expansion