CBAK Energy Technology, Inc. announced that it has entered into a strategic agreement to advance its sodium-ion battery R&D program with Shenzhen Hello Tech Energy Co. Ltd. This collaboration solidifies CBAK Energy's trajectory toward becoming the world's first enterprise capable of producing large cylindrical sodium-ion batteries on a massive scale. Under the terms of the Agreement, Hello Tech will invest RMB 25 million into CBAK Energy for the research and development of sodium-ion batteries, 30% of which the Company has already received.

In addition, Hello Tech will become CBAK Energy's first client for its sodium-ion batteries, with orders potentially worth several hundred million RMB once CBAK Energy's sodium-ion battery is ready for mass production, which is expected to fortify the Company's position as a pioneer in the commercialization of sodium-ion batteries.