[SMM Analysis] Results of China Energy Engineering Group's 6GWh Energy Storage Cell Framework Procurement

In December 2024, China Energy Engineering Group Energy Storage Technology (Wuhan) Co., Ltd. initiated the 2025 6GWh energy storage cell framework procurement, divided into Package 1 (5GWh) and Package 2 (1GWh). Package 1 required the procurement of square cells with a rate of 0.5C and 0.25C, with cell dimensions limited to 207 * 174 * 72mm. Package 2 involved the procurement of square cells with a rate of 1C, with no size restrictions. This tender attracted participation from eight leading companies, including EVE Energy, REPT BATTERO, and Sunwoda Power, and the final bid results were announced on March 21, 2025, signaling the latest trends in energy storage cell market prices and technology.

The average winning bid price for Package 1 was 0.2764 RMB/Wh, with the lowest bid reaching 0.27 RMB/Wh (REPT BATTERO and CHUNENG New Energy). The average winning bid price for Package 2 was 0.3182 RMB/Wh, 15.1% higher than Package 1. The significant price difference is mainly due to the upgraded requirements for materials, manufacturing processes (electrode compaction density), and thermal management systems for high-rate cells. Notably, Ganfeng Lithium secured the lowest bid in Package 2 at 0.285 RMB/Wh, which is not significantly different from the industry's 0.5C cell prices.

All eight selected companies are among the top 15 battery manufacturers in China, with no "dark horse" emerging. This may indicate that the energy storage cell market has entered a phase of intense competition among leading players, driven by technological, financial, and supply chain barriers.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Jie Wang 021-51595902

Yang Xu 021-51666760

Boling Chen 021-51666836