According to local reports, Eve Energy’s Malaysian factory is scheduled to start supplying storage batteries to Tesla in the US in 2026.
According to Chinese media reports, Eve Energy (SHE: 300014) has reached a contract with Tesla (NASDAQ: TSLA) to supply energy storage batteries, and its Malaysian factory will start supplying energy storage batteries to Tesla in the US in 2026. Today’s post has been delayed due to plans.
Asked for confirmation, the Chinese lithium battery maker did not deny it, saying only that information about its business should be included in the announcement, the report said.
Shenzhen-listed Eve Energy announced in a stock exchange announcement yesterday that it and its Malaysian subsidiary Eve Energy Malaysia have signed an agreement to supply battery cells to customers in the Americas.
Although the customer was not named in the announcement, Eve Energy said it has a long-term supply relationship with the customer for the supply of batteries.
Eve Energy is Tesla’s sixth after the US electric vehicle (EV) maker signed supply deals with Panasonic, LG Energy Solution, CATL, BYD (HKG: 1211, OTCMKTS: BYDDY) and Sunwoda, according to LatePost Becomes a battery supplier.
The company is also the third company to supply energy storage batteries to Tesla in the US. The remaining two companies are CATL and BYD, the report said.
Prior to this year, CATL was the sole battery supplier to Tesla’s U.S. energy storage factory. However, the U.S. company is increasing its choice of battery suppliers in order to gain pricing control over its batteries, the report said.
Late Post, citing people familiar with the matter, said CATL remains the largest supplier to Tesla’s energy storage business even after Tesla’s supplier expansion.
In its energy storage business, Tesla buys battery cells from suppliers and assembles them into complete energy storage systems such as Megapack, a large-scale energy storage system for office buildings and factories, and Powerwall for homes. contributes to approximately 80 energy storage systems. The report notes that % of revenue is contributed to the business.
According to LatePost, battery demand at Tesla’s U.S. energy storage factory is about 40 GWh per year and continues to grow. An industry chain official said that LG Energy Solutions is also looking to supply storage batteries to Tesla.
Tesla purchased a lithium iron phosphate (LFP) battery production line from CATL earlier this year, built an LFP energy storage battery factory in Nevada, and began in-house production of energy storage batteries, the report said. I am doing it.
In addition to the Nevada factory, Tesla began construction on May 23 on the Shanghai Megafactory, its first energy storage project outside the United States.
On December 24, another local media outlet, the Shanghai Observer, reported that the Shanghai megafactory is scheduled to be completed by the end of this year.
The Shanghai Mega Factory mainly produces Mega Packs for the global market. Tesla previously said the factory is expected to begin production in the first quarter of 2025, with annual production of up to 10,000 Megapacks and approximately 40 gigawatt-hours of energy storage.
Late Post previously reported on June 5 that BYD’s battery manufacturing unit FinDreams had signed a supply deal with Tesla for its Shanghai megafactory in March.
FinDreams plans to begin supplying energy storage battery cells to Tesla in the first quarter of 2025, according to a June report.
LatePost reported in June that CATL is the primary supplier of battery cells used at Tesla’s Shanghai megafactory, and that FinDreams has been identified as an alternative supplier.
In a previous report, people familiar with the matter said FinDreams’ supply share should be more than 20%.
BYD’s FinDreams division supplies battery cells to Tesla’s Shanghai megafactory
