Chinese EV Battery Companies Secure Overseas Energy Storage Orders Amid Growing Demand

In a move that underscores their global prowess, several Chinese EV battery companies are securing a slew of overseas energy storage orders as the demand for energy storage solutions continues to rise. These companies are capitalizing on the growing need for energy storage systems to support renewable energy integration, grid stability, and emergency power backup.

Data compiled by EVTank reveals that in the first quarter of this year, several of the top 10 Chinese EV battery manufacturers, including CATL, BYD, CALB Group, Guoxuan High-Tech, EVE Energy, Sunwoda Electronic, LG Energy Solution, Farasis Energy, SVOLT Energy Technology, and Tianjin EV Energies, have been actively involved in the energy storage sector for years. This strategic move reflects their commitment to contributing to a more sustainable and reliable energy landscape.

Global demand for energy storage batteries is on the rise, especially in regions with ambitious renewable energy goals. Europe, for instance, is projected to require 200GW of energy storage by 2030 and an even larger 600GW by 2050, according to estimates by the European Association for Storage of Energy (EASE). However, the current deployment in Europe is merely 0.8GW/year, indicating substantial untapped potential.

China’s prowess in lithium-ion battery manufacturing is evident in its growing export figures. Customs data indicates a remarkable 58.9% year-on-year increase in China’s lithium battery product exports in the first seven months of this year. This surge in demand from abroad has led Chinese battery manufacturers to ramp up production and expand their reach.

One standout player in this trend is SVOLT Energy Technology, which has been securing energy storage contracts in Europe, particularly in areas such as industrial and commercial energy storage, portable power sources, and traction power. This momentum has allowed SVOLT to secure orders exceeding 20GWh in total. The company’s established presence in Europe, including the construction of a factory in 2019, positions it well to meet the continent’s growing energy storage needs.

Furthermore, Fluence, a prominent global energy storage system integrator, and AESC, a leading energy storage battery manufacturer, have entered into energy storage battery procurement agreements. These collaborations further underscore the importance of Chinese battery companies in the global energy storage landscape.

As the transition to renewable energy and the need for energy storage intensify worldwide, these Chinese battery manufacturers are poised to play a pivotal role in the global energy transition. With their expertise and innovation, they are not only driving China’s energy landscape forward but are also making a significant impact on the international stage. As the global energy storage market continues to expand, the influence of Chinese battery companies is expected to grow even stronger.