CBAK Energy Technology, Inc. (CBAT), Friday announced that its wholly-owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd. has secured a contract of upto $35 million from Anker Innovations Technology Co., Ltd., an intelligent hardware brand enterprise.
Following the announcement, CBAK's stock is climbing 19.43 percent, to $1.09 on the Nasdaq.
Under the deal, the China-based company would supply battery cells to Anker.
Moreover, both the companies are planning for potential future collaborations along with expansion of capabilities across overseas markets.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.