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

Florida Bill Proposes Wider Ban on Smoking and Vaping in Public Areas

House Bill 389 would expand restrictions on smoking and vaping across public spaces including streets, beaches, parks, and restaurant patios. The measure, if approved, would create a statewide ban replacing local rules, and take effect on July 1, 2026.

Nov.11 by 2FIRSTS.ai

British American Tobacco’s Irish unit says VELO pouch sales hit 29m, net revenue climbs to €33.75m

British American Tobacco’s Irish subsidiary PJ Carroll & Co Ltd reported that sales of its Velo nicotine pouches nearly quintupled in 2024 to 29 million units, driving an 11% year-on-year increase in net revenue to €33.75 million. However, amid a heavy tax burden and declining traditional cigarette volumes, the company’s pre-tax profit fell 8% to €5.69 million.

Dec.01 by 2FIRSTS.ai

Saratov Governor Supports Russian Nationwide Ban on E-Cigarette Sales

Governor of Saratov Oblast, announced on his official Telegram channel that he fully supports a nationwide ban on the sale of e-cigarettes. Busargin noted that while restrictions on such products have long been in place, enforcement remains weak and health experts continue to warn of the risks posed to children. He stressed that economic interests must not outweigh public health and said Saratov is ready to enforce a ban once regional powers are granted.

Nov.17 by 2FIRSTS.ai

2Firsts Observation｜VELO at Stockholm Arlanda: Travel-Centric Messaging and Full-Line Flavour Presentation

2Firsts observed at Stockholm Arlanda Airport that British American Tobacco’s VELO positions the airport environment as a core marketing scenario, deploying large-format LED displays, a full flavour matrix, and clear nicotine-strength segmentation. The brand also features an instructional “How to Use VELO” section and multi-pack sales strategy, showcasing its systematic merchandising capabilities in the Nordic travel-retail channel.