Chinese Joint Venture Plans to Match Tesla 4680 Battery

CBAK Energy Technology, Inc. (NASDAQ: CBAT), a lithium-ion battery manufacturer and electric energy solution provider, signed a three-year strategic agreement with Anhui Jianghuai Motors Group Co., Ltd (SSE: 600418) (“JAC Motors”) for new battery production.

JAC Motors is a top four domestic Chinese car brands and has an R&D team of 5,000 people. In 2019, JAC Motors exported over 640,000 vehicles to the international market.

CBAK and JAC Motors will jointly develop cylindrical lithium-ion batteries and battery packs, including the 46800 model. This will match Tesla’s 4680 battery cell announced on battery day.

Written by Brian Wang,