China firm to set up RM1.9bil lithium battery base in Malaysia
Published on: Thursday, December 01, 2022
By: Bernama
Transition to electric vehicles will be one of the most significant shifts in Malaysia’s automotive sector. (Rawpixel pic)
Kuala Lumpur: EVE Energy Co Ltd, a China-based lithium battery production company, will invest RM1.9 billion to set up a cylindrical battery production base in Malaysia.
The project, undertaken through its subsidiary EVE Energy Malaysia Sdn Bhd, will support electric two-wheel vehicles and power tools manufacturing enterprises in the country and across Southeast Asia.
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Currently, EVE Energy is evaluating several sites to set up its manufacturing facility including a few potential locations in Perak. The project will be implemented in phases with a construction period of no more than three years.
Malaysian Investment Development Authority (MIDA) CEO Arham Abdul Rahman welcomed EVE’s entry to spur the growth of the country’s cylindrical lithium battery industry.
“We are delighted to have EVE Energy setting up its manufacturing operation in Malaysia. The transition to electric vehicles (EV) will be one of the most significant shifts in our automotive sector in generations.
He said the full-fledged cylindrical lithium battery ecosystem resonates well with the National Investment Aspirations and National Automotive Policy 2020 in stimulating and synergising the country’s EV ecosystem, specifically for EV battery production.
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Equipped with skilled talents and proficient technology experts, he added Malaysia is “a conducive and an ideal location” for the success of EVE Energy’s investment.
EVE Energy Malaysia representative director Joe Chan said, “We have a long history in the field of green energy and our goal is to provide customers with high quality batteries.”
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He claimed that over the past few years, EVE Energy has become the world’s leading lithium primary battery brand and is ranked first in China. The company was established in 2001 and listed in 2009.
“The establishment of EVE Energy’s production base in Malaysia will help to supply high quality batteries to companies in the country and Southeast Asia,” added Chan.
EVE Energy’s products are widely used in the areas of internet of things (IoT) and the energy internet, and its lithium-ion batteries are supplied to many global first-tier brands.
MIDA has approved 25 projects totalling RM10.69 billion in the EV and its related ecosystems from 2020 to June this year. The approved investments include EV assembly, manufacturing of EV parts and components, and its charging components.
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