CBAT - 2021 Marked A Year of Turnaround, Backed By Strong Market Demands, Increasing Production Capacity & Integrated Supply of Lithium-Battery Materials
NEW YORK, April 21, 2022 /PRNewswire/ -- CBAK Energy (NASDAQ:CBAT) released its fourth quarter and full year earnings ended Dec. 31, 2021 on April 14, 2022.
2021 marked a major year for CBAK Energy as the Company gained significant traction across its product lines, powered by strengthened technology and product competitiveness, and amplified by further expanded production capacity catered to increasing battery demands for light electric vehicles ("LEV") and electric vehicles ("EV").
According to press release, CBAT turned profitable in 2021 on GAAP basis, with revenues growing 80% and 40% year-over-year to $27.8 million and $52.7 million in the fourth quarter and the full year, respectively
