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Construction in Progress
 12 Months Ended
Dec. 31, 2021
Construction in Progress [Abstract]  
Construction in Progress

8. Construction in Progress

 

Construction in progress as of December 31, 2020 and 2021 consisted of the following:

 

   December 31,   December 31, 
   2020   2021 
Construction in progress  $27,070,916   $21,619,522 
Prepayment for acquisition of property, plant and equipment   3,122,393    5,723,570 
Carrying amount  $30,193,309   $27,343,092 

 

Construction in progress as of December 31, 2020 and 2021 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, 2020 and 2021, the Company capitalized interest of $1,308,274 and $307,426, respectively, to the cost of construction in progress.