Construction in Progress

3 Months Ended

Mar. 31, 2022

Construction in Progress [Abstract]

Construction in Progress

7. Construction in Progress

Construction in progress as of December 31, 2021 and March 31, 2022 consisted of the following:

	December 31,		March 31,
	2021		2022
Construction in progress	$	21,619,522	$	22,277,466
Prepayment for acquisition of property, plant and equipment		5,723,570		6,132,827
Carrying amount	$	27,343,092	$	28,410,293

Construction in progress as of December 31, 2021 and March 31, 2022 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power and Nanjing CBAK.

For the three months ended March 31, 2021 and 2022, the Company capitalized interest of $213,583 and nil, respectively, to the cost of construction in progress.