Kandi and CBAK Announce Strategic Partnership to Launch U.S. Lithium Battery Facilities in Phases
Kandi Technologies Group, Inc. (KNDI)
US:NASDAQ Investor Relations:
en.kandivehicle.com/investornews.aspx?classid=3
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Source: GlobeNewswire
- Partnership establishes two production facilities in the U.S. in phases to serve growing off-road vehicle demand and align with clean energy incentives under the U.S. IRA Hangzhou, China / Dallas, April 14, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi”), a global leader in new energy innovation, and CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK”), today jointly announced a strategic partnership to establish two lithium battery production facilities in the U.S., with locations under evaluation. The first facility, focused on battery pack assembly, is slated for near-term development. The second facility, dedicated to battery cell manufacturing, represents a longer-term initiative that both parties intend to pursue when conditions are favorable. Each facility will be operated as a separate joint venture between Kandi and CBAK, with differing ownership structures tailored to the specific nature and scope of each project. The partnership rep
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