UBS Global Battery Supply Chain: A Chinese Battery Maker Signs a 206GWh Battery Deal with Fluence (2027–31), Including 16GWh in 2027
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UBS's global battery supply chain team reports that a Chinese battery manufacturer has signed a very large battery supply agreement with Fluence, an energy storage company. The deal covers 206GWh of battery deliveries across the 2027–2031 period, of which 16GWh is scheduled for 2027. That first-year volume is only a small share of the total commitment: the remaining 190GWh falls due over 2028–2031, averaging roughly 47GWh per year across those four years, so the bulk of deliveries sits in the later years of the contract. Measured over its full five-year term, the agreement represents an average of just over 41GWh annually from a single customer relationship. For Fluence, the contract locks in battery supply from 2027 through 2031; for the Chinese cell maker, it provides multi-year demand visibility. The transaction is the subject of UBS's latest global battery supply chain note, which examines the order in the context of the battery value chain. The scale — 206GWh over 2027–31, including 16GWh in 2027 — is the report's central data point.