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Construction in Progress

12 Months Ended

Dec. 31, 2020

9.	Construction in Progress

Construction in progress as of December 31, 2019 and 2020 consisted of the following:

	December 31,		December 31,
	2019		2020
Construction in progress	$	21,613,577	$	27,070,916
Prepayment for acquisition of property, plant and equipment		94,047		3,122,393
Carrying amount	$	21,707,624	$	30,193,309

Construction in progress as of December 31, 2019 and 2020 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power and Nanjing CBAK.

For the years ended December 31, 2019 and 2020, the Company capitalized interest of $1,516,244 and $1,308,274, respectively, to the cost of construction in progress.