CBAT - CBAK Energy to launch development of new EV battery by year-end - report

CBAK Energy Technology ([[CBAT]] +6.8%) jumps at the open after the Tesmanian website says the company plans to produce a crucial new 4680 battery cell, joining the ranks of Panasonic, LG Energy and others.According to the report, CBAK plans to produce 25Ah/1kW peak power density 4680 cylindrical cells on a large scale starting in 2023, initially completing their development and receiving samples by the end of 2021.The head of CBAK's battery cell research and development department says the cells will be for mid-range and high-end car batteries.

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CBAK Energy to launch development of new EV battery by year-end - report