Cbak energy completes majority stake acquisition of hitrans

Dalian, china, nov. 29, 2021 /prnewswire/ -- cbak energy technology, inc. (nasdaq: cbat) ("cbak energy," or the "company"), a leading lithium-ion battery manufacturer and electric energy solution provider in china, today announced that its wholly-owned subsidiary dalian cbak power battery co., ltd. ("cbak power") has completed its previously announced acquisition of a majority stake in zhejiang hitrans lithium battery technology co. ("hitrans"), a leading lithium-ion battery material supplier in china formerly known as zhejiang meidu hitrans lithium battery technology co. upon closing of the transaction, cbak power is now the largest shareholder of hitrans owning 81.56% of its equity.
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