Battery Giants EVE Energy And SMOORE Forge 3-Year Deal Worth Potential Billions

Battery giants EVE Energy and SMOORE International Holdings have inked a new framework agreement, setting the stage for a three-year partnership beginning January 2026. The deal, signed on November 20, 2025, extends through December 31, 2028, replacing a similar arrangement that expires at the end of 2025. Nothing like planning ahead, right?

The agreement covers battery cells and related products that SMOORE will use as raw materials in their vaping devices. No fixed amounts are specified yet—typical corporate hedging—but based on historical transactions, we’re talking serious money. Over the past three years, EVE Energy sold approximately RMB 1.58 billion worth of lithium-ion batteries to SMOORE. Do the math. This new deal could easily hit billions.

While the deal leaves volumes unspecified, history suggests billions in battery sales are on the horizon for this vaping supply partnership.

These transactions aren’t exactly new. Sales have remained fairly consistent: RMB 536 million in 2022, RMB 549 million in 2023, and a slight dip to RMB 498 million in 2024. Small potatoes for SMOORE, honestly, representing just 1.02% to 1.48% of their comparable annual transactions.

The companies are keeping things cozy. Ms. Jiang Min serves as both a director at EVE Energy and a non-executive director at SMOORE, making this a connected transaction. This strategic arrangement aims to support the establishment of a long-term and stable partnership between the two companies. Unlike geothermal energy with its 96% capacity factor, battery technology requires constant innovation and reliable manufacturing partnerships. But hey, who doesn’t like keeping business in the family?

Pricing will follow market standards, with fairness guaranteed through comparisons with independent supplier quotations. The agreement will require internal approvals from both companies before taking effect. Both companies are sticking to what they know best—EVE Energy as a Shenzhen-listed battery manufacturing leader and SMOORE as a global atomisation technology powerhouse.

Will this move the needle for either company? Barely for 2025. Future years depend on actual orders. The real story is about supply chain security in the volatile lithium-ion market.

For now, it’s business as usual. Two industry giants shaking hands, securing their future, and strengthening their positions. Nothing revolutionary—just smart business in an evolving market.