Eve Energy Announces Plan for New Factory in Malaysia

Business by { "type": "", "title": "", "logo": "", "description": "", "auth": "", "seo_url": "" }

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

Call2Recycle Expands Vape Recycling in Canada, Bringing Cannabis Devices Into Quebec-Wide Program

Call2Recycle Canada, the country’s battery stewardship organization, is expanding its vape recycling program in Quebec to include cannabis vape devices, strengthening the safe recovery of embedded batteries and device materials. Backed by government bodies, producers and other stakeholders, the initiative aims to reduce landfill waste and create a scalable model for other Canadian provinces.

Dec.03 by { "username": "", "position": "", "avatar": "", "auth": "", "seo_url": "" }

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.

Nov.19 by { "username": "", "position": "", "avatar": "", "auth": "", "seo_url": "" }

South Australia Issues Closure Orders to 100 Stores over Illicit Tobacco and Vapes

South Australia has imposed 28-day closure orders on 100 stores caught selling illicit tobacco and vapes since new ministerial powers took effect on 5 June. The State Government has seized about $50 million worth of illegal products, including over 41 million cigarettes, 140,000 vapes and 13,585 kilograms of loose tobacco. Two long-term closure orders have been issued and five more are before the Magistrates Court, supported by a $16 million illicit tobacco taskforce and tough new penalties.

Nov.14 by { "username": "", "position": "", "avatar": "", "auth": "", "seo_url": "" }

Polish Government Plans Ban on Flavoured Nicotine Pouches and Disposable E-Cigarettes

Poland’s government is preparing to amend the Act on Protection of Health from the Consequences of Tobacco Use to ban the sale of flavoured nicotine pouches and disposable e-cigarettes. The Health Ministry says the goal is to protect youth from nicotine addiction, citing World Health Organization data on the risks of such products. However, industry representatives and legal experts argue the proposal is abrupt and could expand the illicit market.