CBAK Energy Signs Investment Agreement for 12 GWh Sodium-Ion Battery Project in Nanjing
Separate 6 GWh expansion planned by year-end 2026 would more than double the existing Nanjing facility’s annual cell
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DALIAN, China, Sept. 23, 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 signed an investment agreement with the Nanjing Gaochun Economic Development Zone for the research, development and manufacture of large cylindrical sodium-ion battery cells and integrated battery systems in Nanjing, Jiangsu Province. The project would add 12 gigawatt-hours (“GWh”) of annual cell production capacity, advancing the Company’s previously announced sodium-ion expansion plan.
CBAK Energy advances its sodium-ion expansion with a planned 12 GWh project in Nanjing.
Separately, CBAK Energy targets an additional 6 GWh of annual cell capacity at its existing Nanjing facility by year-end 2026. The Company plans to advance the 12 GWh project in the second half of 2027, subject to securing financing.
6 GWh Expansion at the Existing Nanjing Facility
To meet strong demand for Model 60150 large cylindrical cells, CBAK Energy plans to expand its existing Nanjing facility in the second half of 2026. The facility currently has 4.5 GWh of annual Model 32140 cell capacity. The additional 6 GWh would bring its total annual cell capacity to 10.5 GWh.
At full capacity with all output sold, the additional 6 GWh could generate an estimated RMB2.4 billion to RMB2.7 billion (approximately US$356 million to US$400 million) in annual revenue.
The Company is considering two Model 60150 production lines for the expansion. Given strong demand for Model 32140 cells, it may instead install one Model 32140 line and one Model 60150 line. The cell models and production-line configuration may be adjusted as market conditions and customer demand evolve.
12 GWh Project to Support Sodium-Ion and Lithium-Ion Production
The production lines will be designed to manufacture large cylindrical sodium-ion or lithium-ion cells. The Company will determine which chemistry to produce based on market conditions and customer demand. At current lithium-ion cell market prices, the Company estimates that the 12 GWh project could generate an additional RMB4.8 billion to RMB5.0 billion (approximately US$712 million to US$741 million) in annual revenue at full capacity with all output sold.
The project would cover cell manufacturing as well as module and battery pack integration. Development would proceed in phases based on financing, customer demand and project readiness.
Customer testing of CBAK Energy’s sodium-ion cell samples is underway in residential and portable energy storage and electric mobility applications. Additional evaluations cover specialty vehicles, start-stop systems and backup power.
“The 6 GWh expansion would more than double annual cell capacity at our existing Nanjing facility and help us meet strong demand for large cylindrical cells,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “The 12 GWh investment agreement advances our plans for sodium-ion production. Designing the lines to produce lithium-ion cells as well would give us more options to serve customers as demand develops in both markets. We plan to develop the project in phases, with investment guided by financing availability and customer demand.”
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 the planned 12 GWh large cylindrical battery cell and integrated battery systems project; phased development and plans to advance the project in the second half of 2027, subject to financing; the ability of the planned lines to produce sodium-ion or lithium-ion cells and the choice of chemistry based on market conditions; customer testing, qualification and commercial adoption; the separate 6 GWh Nanjing expansion and targeted increase in annual capacity at the existing facility to 10.5 GWh by year-end 2026; future demand for Model 60150 and Model 32140 cells, potential production-line configurations and changes in cell models; estimated additional annual revenue from each project; and the Company’s growth prospects.
Words such as “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plan,” “target,” “may,” “will,” “would” and “could,” and similar expressions, identify forward-looking statements. These 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, product requirements, market prices and order volumes; the timing and outcome of customer testing and qualification and whether they lead to commercial orders; the availability, timing and cost of financing; the availability and cost of raw materials, production equipment and other inputs; technology development and market acceptance of sodium-ion batteries; delays in construction, equipment installation, commissioning or production ramp-up; manufacturing yields, capacity utilization, product quality and operating efficiency; the ability of the planned lines to support both sodium-ion and lithium-ion production; changes in cell models, production-line configuration and the choice of chemistry; regulatory, environmental and other required approvals; foreign exchange fluctuations; competing battery technologies; and other risks described in the Company’s reports filed with or furnished to the U.S. Securities and Exchange Commission.
The revenue estimates assume a full year of operation at full capacity with all output sold and are not guidance for a particular reporting period. The 12 GWh estimate uses current lithium-ion cell market prices as a benchmark. Neither estimate represents contracted sales. Actual revenue will depend on project completion, customer qualification, product mix, market pricing, utilization, manufacturing yields and sales, and may differ materially from these estimates.
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 as a result of new information, future events or otherwise.
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