CBAK Energy Technology, Inc. (NASDAQ:CBAT) has announced strategic collaborations in Shangqiu City, China, to expand its battery production capacities. The collaborations involve investment and lease agreements that will allow CBAK Energy to meet the increasing demand for its 26700 cylindrical batteries at a lower cost. The company's subsidiary, Dalian CBAK, will pay an annual rental to use the Lessor's production line, which is expected to increase Dalian CBAK's capacity by approximately RMB300 million worth of batteries. The Lessor will cover the costs of renovating the production line, and production is expected to start this year.