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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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.