CBAK Energy Inks ¥180M Lithium-Ion Battery Order With Echom
Portfolio Pulse from Shivani Kumaresan
CBAK Energy Technology's subsidiary, Nanjing CBAK New Energy Technology, has signed a strategic agreement with Guangzhou Echom Science & Technology. Echom will purchase about ¥180 million worth of CBAK Energy's cylindrical lithium-ion batteries over the next three years. Echom is also obligated to prioritize CBAK Energy's batteries in its new energy storage products and ensure that over 50% of its relevant products utilize CBAK Energy's batteries.
July 10, 2023 | 1:47 pm
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CBAK Energy has secured a significant order for its lithium-ion batteries from Echom, which will likely boost its revenues over the next three years.
The strategic agreement with Echom is a significant development for CBAK Energy. It not only provides a substantial order for its lithium-ion batteries but also ensures that over 50% of Echom's relevant products will utilize CBAK Energy's batteries. This will likely lead to increased revenues for CBAK Energy over the next three years, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100