EVE Energy Powers Ahead: Major Contract Wins Signal Strong Market Position

In a series of strategic moves that underscore its growing influence in the global battery market, EVE Energy（亿纬锂能）has kicked off 2025 with significant announcements that have caught the attention of industry watchers. 

The company has secured a pivotal role in the energy storage sector, winning a bid for Ruite New Energy（灵寿县睿特新能源）'s flagship storage project at a competitive price point of $0.696/Wh, with a total contract value of ¥278.4 million. This win demonstrates EVE's ability to deliver cost-effective solutions in the increasingly competitive energy storage market. 

In a more substantial development, EVE Power, the company's subsidiary, has inked a strategic partnership with Hyperstrong（海博思创）spanning 2025-2027. The agreement, which anticipates delivery of 50GWh of battery cells, represents a significant vote of confidence in EVE's production capabilities and technological prowess. 

source: EVE energy

The automotive sector has also brought positive news, with Bestune under FAW Group（一汽奔腾） selecting EVE as a supplier for their large cylindrical batteries（大圆柱电池）. This follows a similar designation from Leapmotor（零跑科技） last September, indicating growing momentum in EVE's automotive business. 

Perhaps most impressive is the company's robust order book. As of year-end 2023, EVE reported combined intentions for 574GWh of battery production over the next five years, split between: 

• 88GWh in LFP cylindrical batteries 

• 486GWh in large cylindrical NCM batteries 

What makes these numbers particularly noteworthy is that they don't include orders for soft-pack and prismatic batteries, suggesting the company's total order potential is substantially larger.

source: Bestune

The market has responded positively to these developments, with EVE's stock climbing 2.66% to ¥45.55 on February 7, bringing the company's market capitalization to ¥93.18 billion.  

 Industry experts note that EVE's success in securing both formal and informal commitments across different sectors reflects its strong market position. While energy storage customers tend to operate with more flexible, verbal agreements due to shorter production cycles, automotive customers typically provide written commitments, reflecting the longer development cycles and stringent requirements of the EV industry.  

 These developments collectively paint a picture of a company successfully executing its strategy across multiple market segments, positioning EVE Energy as a key player in the global transition to sustainable energy solutions.