EVE Energy Builds RM1.9bil Manufacturing Plant In Kedah
EVE Energy Co Ltd, a lithium battery manufacturer based in China, has officially announced the groundbreaking ceremony for its latest manufacturing facility in Kulim, Kedah.
The new plant will cost an initial investment of $422 million (RM1.924 billion), according to a joint statement issued by the group and the Malaysian Investment Development Authority (Mida).
According to New Straits Times, the new facility will specialise in manufacturing cylindrical lithium-ion batteries for power tools and electric two-wheelers in Malaysia and throughout Southeast Asia.
EVE Energy Malaysia Sdn Bhd director Joe Chen has stated that the project will be completed in phases, with the total construction time not exceeding three years.
“This is an important milestone for EVE to expand our global businesses, enhance our comprehensive competitiveness and to further grow our global market share.
“Relying on EVE’s domestic advantages and operational experience, we will build a cylindrical battery production base in Malaysia to support the manufacturing of electric two-wheelers and power tools in Malaysia,” he said.
Meanwhile, MIDA's deputy CEO (investment development) Lim Bee Vian stated that the project is perfectly aligned with the nation's 12th Malaysia Plan (12MP) and the National Automotive Policy 2020 (NAP), both of which aim for net-zero greenhouse gas emissions by 2050.
“By establishing this cylindrical battery manufacturing plant in Malaysia, we demonstrate our commitment to competitiveness in the international market.
“Today’s celebration marks a crucial milestone that not only benefits EVE but also paves the way for more companies to invest in Malaysia in the electric vehicle (EV) industry and its ecosystems,” she added.
For the record, EVE announced on December 1, 2022, that it will invest RM1.9 billion to establish a cylindrical battery production base in Malaysia.
The company's products are widely used in internet of things (IoT) applications, and its lithium-ion batteries are used by a number of globally recognised brands.
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