CBAK Energy Technology Limited said it secured a $96 million order for lithium-ion battery cells from an Indian manufacturer of two- and three-wheel electric vehicles. The contract, valued before tax, is scheduled for delivery between now and the end of 2027.
The agreement is expected to bring one of CBAK Energy’s manufacturing facilities to full utilization, according to Chief Executive Officer Zhiguang Hu. The company operates subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu.
The unnamed Indian customer had previously placed smaller orders with CBAK Energy, indicating 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.
The order follows broader growth in India’s electric two-wheeler segment. CBAK Energy cited International Energy Agency data showing India ranked as the world’s second-largest electric two-wheeler market in 2025, with sales rising 5% to nearly 1.3 million units. Electric models accounted for about 6% of total two-wheeler sales in the country that year.
CBAK Energy Technology trades on the NASDAQ under the ticker CBAT.
