CBAT - CBAK Energy starts operations at Nanjing lithium battery plant

CBAK Energy Technology (NASDAQ:CBAT) +4.8% pre-market after saying it commenced operations at its Nanjing lithium battery manufacturing plant in China's Jiangsu province. CBAK says the plant is equipped with an initial annual capacity of 0.7 GWh for its new 32140 battery model targeting the light electric vehicle and electric vehicle sectors. The company also is on track to complete the first construction phase for its Nanjing facility by year-end 2022, when total phase 1 capacity is expected to be expanded to 2 GWh/year. CBAK says it also started operating a new production line at its Dalian facility to make an annual 0.4 GWh of its new 26700 battery model for the LEV and energy storage sectors. But because of COVID-19 containment measures recently adopted in Dalian by the local government, operations of the new production line, along with CBAK's existing production lines in the city, have been suspended. CBAK's Q3

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CBAK Energy starts operations at Nanjing lithium battery plant