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Construction in Progress | 9 Months Ended
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Sep. 30, 2021
Construction In Progress [Abstract] |
Construction in Progress |
9. | Construction in Progress
Construction in progress as of December 31, 2020 and September 30, 2021 consisted of the following:
|  | December 31, |  |  | September 30, |
|  | 2020 |  |  | 2021 |
Construction in progress |  | $ | 27,070,916 |  |  | $ | 45,917,555 |
Prepayment for acquisition of property, plant and equipment |  |  | 3,122,393 |  |  |  | 3,328,560 |
Carrying amount |  | $ | 30,193,309 |  |  | $ | 49,246,115 |
Construction in progress as of December 31, 2020 and September 30, 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 September 30, 2020 and 2021, the Company capitalized interest of $315,177 and $19, respectively, to the cost of construction in progress. For the nine months ended September 30, 2020 and 2021, the Company capitalized interest of $935,399 and $306,514, respectively, to the cost of construction in progress.

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