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Construction in Progress
 3 Months Ended
Mar. 31, 2021
Construction In Progress [Abstract]  
Construction in Progress
8.Construction in Progress

Constructionin progress as of December 31, 2020 and March 31, 2021 consisted of the following:

   December 31,   March 31, 
   2020   2021 
Construction in progress  $27,070,916   $

28,465,244

 
Prepayment for acquisition of property, plant and equipment   3,122,393    5,638,962 
Carrying amount  $30,193,309   $

34,104,206

 

Construction in progress as of December 31, 2020 and March 31, 2021 was mainly comprised of capital expenditures for the construction of the facilities and production lines of CBAK Power and Nanjing CBAK.


For the three months ended March 31, 2020 and 2021, the Company capitalized interest of $316,168 and $213,583, respectively, to the cost of construction in progress.