What happened to CBAK energy stocks on Friday? – CBAK Energy Technologies (NASDAQ: CBAT)

China-Brazil Energy Technology Co., Ltd. CBAT Shares moved higher on Friday after the company announced it secured orders from customers Anker Innovation.

What to know: Nanjing CBAL New Energy Technology Company, a subsidiary of CBAK, received orders worth approximately US$30 million to US$35 million from Anker throughout 2024. .

The orders are mainly for battery cells, including 32140 large lithium iron phosphate cylindrical batteries. Anker uses these batteries for its portable power products.

“We are pleased to be added to Anker Innovations’ list of qualified suppliers and become their largest supplier of lithium phosphate batteries. This marks an important milestone in our partnership and we look forward to further strengthening our relationship. Hu ZhiguangCEO of CBAK Energy.

“As demand for our products continues to grow, we are fully committed to meeting these demands and our production facilities are operating at full capacity. This reinforces our focus on product quality and reliability, which we believe has earned us the reputation of Anker Innovations and others Trusted by leading companies.

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CBAT Price Trend: As of this writing, CBAK shares were up 18.4% at $1.08, according to Benzinga Pro.

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