Chinese battery manufacturer CBAK Energy Technology said it received a $96 million order for lithium-ion battery cells from an Indian two- and three-wheeler producer. The order excludes tax and is scheduled for delivery by the end of 2027.
The transaction will bring one of CBAK Energy’s manufacturing facilities to full capacity, according to Chief Executive Officer Zhiguang Hu. The company, which trades on the NASDAQ under the ticker CBAT and is based in Dalian, China, operates subsidiaries in Dalian, Nanjing, Shaoxing, and Shangqiu.
The Indian customer had previously placed smaller orders with CBAK Energy, marking an expansion of their commercial relationship. The company is also in discussions with another India-based customer regarding a potential future battery cell order, though no definitive agreement has been finalized.
CBAK Energy produces lithium-ion and sodium-ion batteries for electric vehicles, light electric vehicles, energy storage systems, and other applications. The order aligns with India’s growing electric two-wheeler market, which the International Energy Agency projects will reach nearly 1.3 million units in 2025, accounting for about 6% of total two-wheeler sales. India was the world’s second-largest electric two-wheeler market that year, with sales rising 5% from the prior period.
