Benzinga | Oct 5, 2020 02:25PM EDT

Why CBAK Energy Technology's Stock Is Trading Higher Today

CBAK Energy Technology (NASDAQ:CBAT) shares are trading higher on Monday amid continued volatility in the lithium and EV battery space.

CBAK Energy Technology is engaged in the manufacture, commercialization, and distribution of a variety of standard and customized lithium-ion high power rechargeable batteries which are mainly used in electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply, and other high power applications.

The company manufactures five types of Li-ion rechargeable batteries namely aluminum-case cell, battery pack, cylindrical cell, lithium polymer cell, and high-power lithium battery cell. Geographically, it generates a majority of its revenue from Mainland China and also has an operation in Europe, the United States, Israel, and Other Countries.

CBAK Energy Technology shares traded up 32.59% to $4.15 on Monday. The stock has a 52-week high of $4.20 and a 52-week low of 36 cents.