CBAK Energy Technology, Inc. (CBAT) revealed on Friday that its fully-owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd., has landed a contract valued at up to $35 million from Anker Innovations Technology Co., Ltd., a prominent brand in intelligent hardware.
In reaction to the news, CBAK's stock price surged by 19.43%, reaching $1.09 on the Nasdaq exchange.
As per the agreement, the China-based enterprise will supply battery cells to Anker.
Furthermore, the two companies are considering additional collaborations and are exploring options for expanding their presence in international markets.
The material has been provided by InstaForex Company - www.instaforex.com
In reaction to the news, CBAK's stock price surged by 19.43%, reaching $1.09 on the Nasdaq exchange.
As per the agreement, the China-based enterprise will supply battery cells to Anker.
Furthermore, the two companies are considering additional collaborations and are exploring options for expanding their presence in international markets.
The material has been provided by InstaForex Company - www.instaforex.com