Eve Energy Announces Plan for New Factory in Malaysia

Business by 2FIRSTS.ai

Jul.08.2024

Eve Energy Announces Plan for New Factory in Malaysia

Eve Energy plans to invest in battery manufacturing projects in Malaysia, expanding its global presence and market position.

On the evening of July 5th, Eve Energy (300014) announced that its wholly-owned subsidiary, Eve Energy Malaysia Limited (referred to as "Yiwei Malaysia"), plans to invest in the construction of energy storage battery and consumer battery manufacturing projects in Malaysia. The investment will not exceed 460 million US dollars (approximately 3.277 billion RMB).

According to reports, the project is located in Kulim City, Kedah state, Malaysia, with a land area of approximately 220,000 square meters. The construction period will not exceed 2.5 years.

Eve Energy stated that the aforementioned investment will further facilitate the development of overseas business, help expand the production capacity of square lithium-ion batteries and cylindrical lithium-ion batteries, and strengthen the company's market position in the field of lithium batteries.

Malaysia is a key location for Eve Energy's overseas production layout, with projects already established in the region.

In October 2022, the company announced plans to invest in a cylindrical lithium battery manufacturing project in Malaysia. The project will mainly produce 21700 cylindrical lithium batteries, catering to electric two-wheeler and power tool manufacturing companies in Malaysia and Southeast Asia. The investment amount for the project is expected to be no more than $422 million. On May 12, 2023, Yawei Malaysia signed a memorandum of understanding with PKL to purchase the designated land for the project. The two parties plan to sign the land purchase agreement in June 2023. Currently, the aforementioned project is progressing steadily.

In addition to Malaysia, Eve Energy is also building an overseas production base in Hungary. In June 2023, the company announced plans to select the location of Debrecen, Hungary to construct a 450,000 square meter electric vehicle cylindrical battery production base, with an investment of up to 13.07 billion euros and a construction period of 4 years. The company stated that the aforementioned project is beneficial for quickly responding to the demand for power batteries for new energy vehicles from key local customers in Hungary, while also attracting more orders from customers in surrounding European regions.

References:

[1] 拟不超32.77亿元投建马来西亚储能及消费类电池制造项目亿纬锂能持续加码海外产能

Also Read:

[1] Eve Energy Announces Plan to Reduce Stake in Smoore by No More than 3.5%

[2] Eve Energy's Subsidiary Receives over HK$95 Million Cash Dividend from Smoore International

[3] Eve Lithium Energy: Gel Technology Has Battery Products Applied in E-cigarette Field

[4] Strategic Partnership Agreement Signed between Yiwei Lithium and Yan Yang Technology

#Asia #Market #Malaysia #Lithium-ion batteries

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Product | SKE Launches Disposable V-BOT, Claiming U.S. Manufacturing and Domestic Blending & Filling

SKE has launched the V-BOT disposable e-cigarette. The company’s website highlights that the device is “Made in the USA,” with blending and filling also completed domestically. The V-BOT features dual power modes (Eco/Boost), an 800 mAh rechargeable battery, and is advertised as delivering up to 40,000 puffs.

Nov.07 by 2FIRSTS.ai

UK to Implement e-cigarette Product Tax and Stamp Plan from October 1, 2026

HMRC announces e-cigarette tax stamp plan to combat illicit trade starting October 1, 2026 alongside VPD policy enforcement.

Nov.27 by 2FIRSTS.ai

Cambodia MoT warns: Businesses using vaping and shisha will have their operating licences revoked

Cambodia’s Ministry of Tourism has issued a new directive prohibiting all tourism service establishments from possessing, selling, importing, storing, or advertising e-cigarettes and shisha-related products. Violators will face written warnings, suspension of operations, or even revocation of their tourism business licenses. The measure is part of a nationwide ban enacted under Sub-Decree No. 02 BB, issued by the Royal Government on October 21.

Nov.21 by 2FIRSTS.ai

Russian Duma Committee Moves to Embed Local Vape Prohibitions

Fedot Tumusov, First Deputy Chair of the Duma Health Committee, called vapes the “most dangerous and least controlled” nicotine product and said restricting them should be a priority. While refining a government bill, the committee proposes granting regions the power to ban vape sales. Committee Chair Sergey Leonov said the illicit e-cig market exceeds 60%, with new licensing aimed at cleaning up the sector.