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Shares of Eve Energy surged today, propelling the Chinese lithium battery manufacturer’s year-to-date growth beyond 100% following announcements of new collaborations with two European companies aimed at strengthening its footprint in the region’s energy storage sector.
The company’s stock closed up 8.8% at CNY91.00 (about $12.80), elevating its market capitalization to twice its value at the beginning of the year.
Based in Huizhou, the firm has formed a strategic alliance with TSL Assembly, a renewable energy provider operating in Central and Eastern Europe, to develop one gigawatt-hour of energy storage systems from 2026 through 2030. This move supports regional expansion and the ongoing shift toward green energy initiatives, according to Eve.
TSL has established sales channels and project expertise across Slovakia, the Czech Republic, Hungary, and nearby nations, the company’s release indicated.
As part of this partnership, Eve will supply state-of-the-art energy storage solutions and battery modules, with support from its German office, which will handle technical and project management services to facilitate deployment.
On the same day, Eve announced a separate 500-megawatt-hour agreement with Polish photovoltaic operator CommVolt. The companies aim to develop prominent storage projects across Central and Eastern Europe, customizing products to meet local market demands, while bolstering grid stability and increasing renewable energy integration, Eve added.
Last year, the company ranked ninth globally in installed capacity for electric vehicle batteries and second in energy storage, according to recent industry research.
Its first-half report revealed that Eve’s sales network now spans more than a dozen countries across Europe, Asia Pacific, and North America. International revenue reached CNY7 billion (around $983 million) in the first six months, representing nearly a quarter of total sales.
In February, Eve opened its first overseas plant in Malaysia and is currently constructing a second facility in Hungary, scheduled to begin operations in 2027.
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