On March 20th, EVE Energy issued a public announcement stating that it intends to issue RMB 5 billion worth of convertible corporate bonds to unspecified objects. This sum of funds will be used for the “23GWh Cylindrical Lithium Iron Phosphate Energy Storage Power Battery Project”, which will be mainly applied in fields such as passenger vehicles and household energy storage. Among them, after completion, it is planned to newly add a production capacity of approximately 21GWh for the 46-series large cylindrical batteries.
EVE Energy stated that as of the end of September 2024, the total intended demand from customers for its cylindrical lithium iron phosphate battery products in the next five years amounted to approximately 81GWh; the total intended demand from customers for its ternary large cylindrical batteries in the next five years amounted to approximately 483GWh.
In the view of EVE Energy, the expansion of its production capacity is mainly influenced by the production situations of downstream customers. Generally, intended demands are presented in two forms. One is proposed in a non-written form during business negotiations, and the other is in written form, including signing cooperation agreements, purchase order notifications or letters, project documents, volume requirements, inquiry letters, and other media and means.