China-based battery manufacturer EVE Energy has completed the final phase of its facility in Malaysia, advancing its overseas expansion.
PLANT COMPLETED
After more than 2 years of construction, EVE Energy’s battery production plant in Malaysia is now complete. While the facility is the company’s 53rd plant globally, it is also its first production facility outside of its home base, China. Located in the Kedah region, the new plant is equipped with 15 production lines and has an annual production capacity of 684 million battery cells, equivalent to more than 10 gigawatt-hours (GWh). It will primarily produce prismatic and cylindrical lithium-ion batteries for power tools and electric two-wheelers.
The initial investment for the plant’s first phase of production was valued at $420 million USD ($599 million AUD). The recently completed second phase features increased production capacity and improved operations aimed to improve the efficiency of overseas deliveries while also establishing the potential for future production ramp-up and integration into the local supply chain.
ORGANISATIONAL COOPERATION
The construction of this plant is the result of a collaboration between Eve Energy Malaysia Sdn. Bhd and Invest Kedah Bhd. The Memorandum of Understanding (MoU) was signed as early as January 2024, which also stipulated the establishment of EVE Malaysia Energy Storage Company.
EVE Energy is also making efforts to expand in Indonesia. On 30 January, EVE Energy, along with Huayou Coblat and PT Daaz Bara Lestari, signed an agreement with Indonesian mining organisation ANTAM and the Indonesia Battery Corporation.
In Europe, EVE Energy is in talks to invest EUR 1 billion ($1.66 billion AUD) into a 28 GWh facility for its 46-series battery cells. The plant will be equipped with three production lines and begin mass production in 2027. Its Hungary plant will serve as its foray into the European electric vehicle (EV) market.
Lastly, EVE Energy’s latest project in the United States is a plant with a capacity of 21GWh. Like its upcoming European plant, mass production will begin 2027 with three production lines to create prismatic lithium iron phosphate batteries. This investment in the US is valued at $2.64 billion USD ($3.78 billion AUD). EVE Energy’s American arm has also invested $150 million USD ($214 million AUD) in cash in exchange for 10 per cent stake in the project.
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