DALIAN, China, April 30, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy" or the "Company"), a leading manufacturer of lithium-ion and sodium-ion batteries and electric energy solutions in China, today announced its Q1 2025 market performance for 32140 cylindrical cells, based on the latest findings from the Start Point Institute of Research (“SPIR”, “SPIR Report”). According to the SPIR Report, CBAK Energy’s 32140 cylindrical cell shipments captured a notable 14.6% share of the global market, positioning the Company fourth overall—behind only a select group of major multinational competitors—highlighting its growing influence and competitiveness in the global battery sector.
Back in February, based on findings from the previous SPIR Report covering 2024, the Company announced it had captured a remarkable 19% share of the global market for 32140 cylindrical cells. Building on that success, CBAK Energy has once again demonstrated strong performance in Q1. With ongoing discussions with major existing and prospective customers, the Company remains confident in its ability to sustain this momentum and further expand its presence in the large cylindrical cell market in the periods ahead.
"We are pleased to see our 32140 cylindrical cells continue to gain market acceptance," said Zhiguang Hu, Chief Executive Officer of CBAK Energy. "Our outstanding performance in Q1 2025 underscores our commitment to delivering high-quality, reliable energy storage solutions that meet the growing demands of our customers. We remain focused on innovation and expanding our market presence."
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About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.
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Safe Harbor Statement
This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
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CBAK Energy Technology, Inc.
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