DALIAN, China, Oct. 01, 2026 (GLOBE NEWSWIRE) -- CBAK Energy Technology Limited (NASDAQ: CBAT) ("CBAK Energy" or the "Company"), a China-based lithium-ion battery manufacturer and energy solutions provider, today announced that it has agreed on a battery supply framework with a European blue-chip technology company serving automotive and industrial markets worldwide (the "European Customer"). The Company expects orders to be placed in stages under the framework.
The European Customer chose CBAK Energy for its battery technology, manufacturing experience and ability to meet the customer's requirements for performance and consistent quality.
Shipments and Sales Outlook
As of September 27, 2026, cumulative orders from the European Customer had exceeded US$4.5 million, and CBAK Energy expects the total to continue to grow.
The Company expects annual sales from its current business with the European Customer to exceed US$30 million in each of 2027 and 2028.
New Product Development
The cooperation also includes a new, higher-capacity cell now under development, with commercial deliveries expected to begin in 2027. Sales of this cell are not included in the annual estimates above. The Company believes there are currently few comparable products on the market and expects this cell to lead to larger orders and a long-term supply relationship.
"The framework is in place, and we are confident that more orders will follow," said Zhiguang Hu, Chief Executive Officer of CBAK Energy. "We have begun supplying the customer and expect sales to increase in the coming years. Our technology and manufacturing experience were key to winning this business. We expect to start commercial deliveries of the higher-capacity cell in 2027 and believe it can generate larger orders over a longer period."
CBAK Energy does not name the European Customer, subject to mutual agreement.
About CBAK Energy
CBAK Energy Technology Limited (NASDAQ: CBAT) is a China-based company that develops, manufactures and sells high-power lithium-ion and sodium-ion batteries, as well as materials used in high-power lithium-ion batteries. It has battery cell production, research and development, and sales operations in Nanjing, Dalian and Shangqiu, with research and development centers in Nanjing and Dalian. Its raw materials business is based in Shaoxing. The Company's products serve electric vehicles, light electric vehicles, energy storage systems and other high-power applications. In January 2006, CBAK Energy became the first Chinese lithium battery manufacturer to be listed on the Nasdaq Stock Market.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include expectations about future orders and sales under the battery supply framework; estimated annual sales for 2027 and 2028; the development, qualification and expected 2027 commercial deliveries of the higher-capacity cell; future order values and the duration of the customer relationship; and possible disclosure of the customer's identity. Words such as "expect," "estimate," "anticipate," "believe," "plan," "may," "will" and "could," and similar expressions, identify forward-looking statements.
Sales estimates are based on the agreed framework and discussions with the customer and do not constitute binding purchase commitments. The annual estimates for 2027 and 2028 exclude the higher-capacity cell under development. Purchase orders for the near-term business described in this release have not yet been received. Actual sales and their timing depend on purchase orders, final pricing, deliveries and customer acceptance.
Forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Risks include changes in customer demand or product requirements; pricing and input costs; expected orders that are not placed, or are delayed, reduced or cancelled; failure to agree on commercial terms; supplier performance and supply or logistics disruptions; delays or failures in the development, testing or customer qualification of the higher-capacity cell; competition; difficulties fulfilling orders, obtaining customer acceptance or collecting payment; foreign exchange fluctuations; customer concentration and credit risk; regulatory, economic and geopolitical changes; confidentiality restrictions and the need for customer consent before disclosing its identity; and other risks described in the Company's reports filed with or furnished to the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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