Secures 50 GWh Battery Cell Order! EVE Scores a "Triple Win"

At the beginning of the year, EVE Energy released a series of major announcements!

On the evening of February 7, EVE Energy announced that its subsidiary, Hubei EVE Power, had signed a "Strategic Cooperation Agreement" with HyperStrong. According to the announcement, Hubei EVE Power Co., Ltd., a subsidiary of EVE Energy, signed a "Strategic Cooperation Agreement" with Beijing HyperStrong Technology Co., Ltd. Both parties agreed to establish a strategic procurement cooperation relationship for battery cell products for 2025-2027, with an estimated total procurement volume of 50GWh . The specific procurement quantity will be subject to the subsequent procurement contracts signed by both parties.

On the evening of February 6, EVE Energy announced that its subsidiary, Hubei EVE Power Co., Ltd., had received a supplier nomination notice from FAW Bestune regarding cylindrical battery supply. EVE Energy stated that this recognition of the performance and supply qualifications of its cylindrical battery products will help promote the company's development in the lithium-ion power battery market, continuously enhance its market expansion capabilities, comprehensive strength, and internationalization level in the EV industry. The actual supply volume will depend on formal sales orders, and the impact on this year's operating performance is currently uncertain.

On February 5, the winning bid result for the equipment procurement project of the 1GW/2GWh flexible shared ESS project in Lingshou County by Ruit New Energy was announced. The winning bid announcement did not specify the ESS scale of this bid, but related information indicates that the bidding scale was 200MW/400MWh. Based on this, EVE Energy won the bid with a bid price of 278.4 million yuan (equivalent unit price of approximately 0.696 yuan/Wh).

Over the past three years, EVE Energy has signed multiple strategic cooperation agreements:

Source of chart: Battery Network

Is the Business Center Shifting to ESS?

Recently, institutions such as the Zhongguancun Energy Storage Industry Technology Alliance and SMM have successively released the 2024 ESS battery cell shipment rankings, showing that EVE Energy has surpassed BYD, with shipments second only to CATL. In contrast, EVE Energy's ranking in the power battery market has declined, which may indicate that the company significantly adjusted its strategic focus last year.

EVE Energy previously disclosed that in the first three quarters of last year, its ESS battery shipments reached 35.73GWh, up 115.57% YoY. The company's annual ESS battery shipment target was set at 50GWh, equivalent to twice the 2023 shipment volume. Notably, the expansion of overseas business further strengthened EVE Energy's competitiveness in the global ESS sector, with its overseas shipments significantly increasing compared to 2023.

Meanwhile, EVE Energy's ESS battery cell shipment forms have become more diversified, including supplying ESS battery cells and packs to system integrators, as well as directly providing self-produced energy storage systems to developers. EVE Energy's ESS batteries are widely used in household ESS, industrial and commercial ESS, grid-side ESS, and renewable energy ESS, with broad market coverage.

In terms of globalization strategy, EVE Energy has adopted a more open approach, establishing partnerships with multiple energy companies, power grid firms, and equipment manufacturers, further expanding its market share. Its products are exported to Europe, North America, Southeast Asia, and other regions, demonstrating strong international competitiveness.