DALIAN, China, Nov. 03, 2026 (GLOBE NEWSWIRE) — CBAK Energy Technology Limited (NASDAQ: CBAT) (“CBAK Energy” or the “Company”), a China-based lithium-ion battery manufacturer and energy solutions provider, today reported that a battery pack manufacturer serving the automated guided vehicle (“AGV”) market has placed orders totaling approximately US$8.22 million, including applicable taxes, since their commercial relationship began in 2022. Initial battery cell evaluations took place in 2021. The customer purchases CBAK Energy’s 26650 PFS2 and 32140 FS full-tab cylindrical lithium iron phosphate (“LFP”) cells for AGV battery packs. AGVs are mobile robots that transport materials in warehouses and manufacturing facilities.

The Power Demands of AGVs

AGVs often operate across extended shifts with frequent starts, stops and changing loads. These conditions require consistent power delivery, while short charging windows make fast recharging important for reducing downtime. Limited battery space also places demands on pack design and thermal management. Battery pack manufacturers must balance power, charging speed, cycle life and space requirements for each application.

LFP Cells for AGV Battery Packs

For compact warehouse AGVs that move and recharge frequently, CBAK Energy’s 26650 PFS2 full-tab cylindrical LFP cell offers high-rate charging and discharging and achieved a cycle life of 3,000 cycles in Company testing. Its full-tab design helps reduce internal resistance and heat generation during high-current operation. The smaller cylindrical format also gives battery pack manufacturers flexibility when fitting cells into limited space.

For AGVs with higher energy requirements, the Company offers its 32140 FS large cylindrical LFP cell. In Company testing, the cell’s internal resistance was 1.3 mΩ, approximately 18% lower than that of comparable cells tested. It supports 2C fast charging and reached a full charge in approximately 30 minutes under specified test conditions. Its larger format can help reduce the number of cells needed for a battery pack, depending on the required energy capacity and pack design. These features make it an option for AGVs operating on longer routes, carrying heavier loads or working with short charging windows.

Customer Qualification and Ongoing Supply

CBAK Energy’s 26- and 32-series cylindrical LFP cells have passed the customer’s initial safety and performance evaluations. The Company draws on more than two decades of battery manufacturing experience, established quality controls and production capacity in Nanjing and Dalian to support ongoing supply. Its product testing and compliance practices address applicable UL safety standards, UN 38.3 transport testing and RoHS restrictions on hazardous substances. These capabilities support the customer’s qualification process and development of battery packs for different AGV applications.

“AGV applications are an important market for our cylindrical LFP cells,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “Our relationship with this customer has grown from initial evaluations into several years of supply. It shows the commercial value of meeting demanding operating requirements while maintaining consistent product quality. Battery pack manufacturers need both suitable cells and a dependable supplier as their applications evolve. We intend to build on this experience to develop our product range and win more business in warehouse, logistics and manufacturing automation.”

About CBAK Energy

CBAK Energy Technology Limited (NASDAQ: CBAT) is a China-based company that develops, manufactures and sells high-power lithium-ion and sodium-ion batteries, as well as materials used in high-power lithium-ion batteries. It has battery cell production, research and development, and sales operations in Nanjing, Dalian and Shangqiu, with research and development centers in Nanjing and Dalian. Its raw materials business is based in Shaoxing. The Company’s products serve electric vehicles, light electric vehicles, energy storage systems and other high-power applications. In January 2006, CBAK Energy became the first Chinese lithium battery manufacturer to be listed on the Nasdaq Stock Market.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include expectations regarding the continued development of the Company’s relationship with its AGV battery pack customer; order fulfillment, future customer demand, product qualification and supply opportunities; the suitability and expected performance of its cylindrical LFP cells in AGV applications; the potential benefits of cell design, fast charging, high-rate discharge and cycle life; the Company’s ability to maintain product quality and reliable supply; and its plans to develop its product range and expand its business in warehouse, logistics and manufacturing automation.

Words such as “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plan,” “target,” “may,” “will,” “would” and “could,” and similar expressions, identify forward-looking statements. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially.

Risks include changes in customer demand, AGV market conditions and product requirements; the timing of order fulfillment and delivery; the outcome of customer testing and qualification; whether existing relationships lead to additional orders or expanded supply; differences between cell test results and actual battery pack or AGV performance; variations in charging time, cycle life and internal resistance under different conditions; manufacturing yields, product quality, production capacity and supply availability; battery pack design and charging strategies; applicable safety, certification, transportation and environmental requirements; competing battery technologies; and other risks described in the Company’s reports filed with or furnished to the U.S. Securities and Exchange Commission.

The cell performance figures in this release were obtained in Company testing under specified conditions. The comparative result applies to the cells tested. Actual battery pack and AGV performance, including charging time and cycle life, will depend on pack design, charging protocols, operating conditions, usage patterns and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.

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