EVE Energy designated as supplier of Changan Automobile’s HEV battery system

Shanghai (Gasgoo)- On March 24, EVE Energy announced that its subsidiary, EVE Power Co., Ltd., has received a supplier nomination from Changan Automobile for HEV (hybrid electric vehicle) battery assemblies and other key components.

EVE Energy commented that the move marks a significant recognition of EVE Power's battery technology and manufacturing capabilities in the HEV sector, further solidifying its position in the cylindrical battery market.

Eve Energy stated that the successful implementation of this project will enhance its footprint in the HEV industry, strengthening its market expansion, overall competitiveness, and global presence in the new energy vehicle (NEV) sector. However, the company cautioned that the project's progress remains uncertain, with actual supply volumes dependent on official purchase orders, making its impact on 2024 financial performance difficult to determine at this stage.

Previously, through an investor Q&A platform, EVE Energy emphasized its differentiation strategy in response to evolving market trends. The company sees standardized cylindrical battery sizes as a key advantage for future rapid iteration and development, allowing seamless adaptation to multiple powertrain solutions, including battery electric vehicles, plug-in hybrid electric vehicles, and range-extended electric vehicles. Through advancements in cell materials, EVE Energy aims to optimize range and performance across various voltage and application scenarios.

EVE Energy operates across three main segments: consumer batteries, power batteries, and energy storage. In October 2022, the company predicted that large-format battery cells would become the energy storage industry's future, launching its Mr. Big 628A energy storage cell. By December 2024, EVE Energy started mass-producing these next-generation storage batteries.

The Mr. Big series utilizes a fourth-generation ultra-thin stacking process and innovative 3D current collection technology, overcoming heat generation challenges associated with large battery formats. The energy efficiency of the cell reaches 96.2% (at a 0.25P charge-discharge rate under 25°C conditions). Additionally, its 5MWh energy storage system, which features mass-produced large-format batteries, is expected to reduce total lifecycle operation and maintenance costs by over 30%, providing high-efficiency solutions for next-generation power systems.