EVE Energy Ships 67.52 GWh of Storage Batteries in Nine Months
EVE Energy's storage battery shipments rose 39.46% to 67.52 GWh in January-September, but implied third-quarter volume dipped from Q2; Q4 capacity is booked and a 206 GWh Fluence deal starts in 2027.
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EVE Energy's storage shipments edged past its EV battery deliveries over the first nine months of 2026, according to its Q3 report as summarized by ESS News.
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EVE Energy shipped 67.52 GWh of energy storage batteries in the first nine months of 2026, up 39.46% from a year earlier, according to its third-quarter report released on Oct. 23 and summarized by ESS News on Oct. 27.
Storage was the company's largest battery business by volume. It slightly exceeded the 66.17 GWh of electric vehicle batteries EVE delivered over the same period, which rose 91.3%.
EVE Energy Storage Shipments Slowed in the Third Quarter
EVE shipped 44.46 GWh of storage batteries in the first half. ESS News derives third-quarter shipments of about 23.06 GWh from that, against 24.08 GWh in the second quarter. So the nine-month total keeps growing, but the quarterly volume dipped sequentially.
The Q3 figure is ESS News's calculation from EVE's reported first-half and nine-month totals, not a number EVE published.
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Management said at an investor briefing on Oct. 23 that fourth-quarter production capacity is fully booked and that output should rise from the third quarter. First-quarter 2027 delivery schedules had not been finalized.
Group revenue for the nine months was CNY 73.39 billion ($10.79 billion), up 63.08%, and net profit attributable to shareholders rose 86.11% to CNY 5.24 billion. Third-quarter revenue was CNY 27.70 billion, with attributable net profit of CNY 1.94 billion. EVE said overall gross margin improved sequentially in the third quarter, citing cost controls, lower cost pressure from newly commissioned factories and a better customer and product mix.
The company has not disclosed a separate third-quarter profit figure for storage. For the first half, it reported storage battery revenue of CNY 15.09 billion and a segment gross margin of 12.51%.
628 Ah LFP Cells and the 206 GWh Fluence Contract
Large-format lithium iron phosphate (LFP) cells are the mainstay of the storage line. EVE has expanded mass production of its 628 Ah prismatic cell, used in its storage systems, and a 400 MWh project with 628 Ah cells and 5 MWh DC units entered operation in China in January 2026. A larger 702 Ah cell and a 6.9 MWh containerized system are with customers for sampling.
In its first-half disclosures, EVE outlined about 260 GWh of additional large-format LFP capacity across several Chinese provinces, to be built in stages according to demand. It also has a plant in Malaysia.
In September, subsidiary Hubei EVE Power signed a five-year supply framework with US integrator Fluence for up to 206 GWh from 2027 to 2031: about 16 GWh of committed deliveries in 2027 and 190 GWh of reserved capacity for 2028-2031. For grid and data-center storage buyers, that ties a large share of EVE's planned growth to one overseas customer, and reserved capacity is not an order.
What Is Not Confirmed Yet
The quarterly storage figure is ESS News's calculation, not a number EVE published. The company has given no storage-only profit for the third quarter, and the 260 GWh expansion is a plan to be phased in. For earlier EVE coverage, see Voltgrid's report on its solid-state cell and sodium-ion pack.
