EVE Energy talks with MIDA for further cooperation in Malaysia

Shanghai (Gasgoo)- Mr. Huang Weiyan, the Senior Vice President of EVE Energy, visited the company's factory in Malaysia earlier this month for a project exchange, according to the company's press release. During his visit, he held in-depth discussions with Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, the newly appointed CEO of the Malaysian Investment Development Authority (MIDA), to explore further cooperation opportunities.

EVE Energy's factory in Malaysia is structured into two phases. The first phase, known as the "International Cylindrical Battery Industrial Park," involves an investment of up to $422.3 million and is located in Kulim, Kedah, where construction commenced on August 7, 2023. The second phase, focusing on energy storage, involves EVE Energy's wholly-owned subsidiary, EVE Energy Malaysia Sdn. Bhd. This subsidiary signed a memorandum of understanding with INVEST KEDAH BHD. on January 15, 2024, in China's Huizhou city, paving the way for the establishment of the EVE Energy

Malaysia Energy Storage Company and the acquisition of a new site for a storage factory to cater to Malaysia's growing energy storage demands.

The Kulim facility, also referred to as EVE Energy's 53rd factory, primarily produces cylindrical batteries for electric tools and two-wheeled electric vehicles. Since beginning operations, the factory has significantly contributed to the local economy through its advanced manufacturing capabilities and technological expertise, earning widespread market recognition. The project is advancing smoothly as scheduled, and once fully operational, it will greatly enhance the company's ability to serve overseas markets and maintain its leadership in the cylindrical battery industry. It is also expected to boost local employment and economic growth, further strengthening Sino-Malaysian ties in the new energy sector.