Eve Energy begins construction of RM1.93 billion lithium-ion battery manufacturing plant in Malaysia – paultan.org

In December last year, China-based lithium battery maker Eve Energy announced plans to build a manufacturing facility in Malaysia, which it said would allow it to produce 21700-format cylindrical lithium-ion batteries to support electric two-wheeler and power tool manufacturing enterprises in the country as well as across the region.

Now, construction of the facility is set to begin, with the company – through its subsidiary Eve Energy Malaysia – having held a groundbreaking ceremony for the new factory, which will be located in Kulim, Kedah as part of the International Cylindrical Battery Industrial Park in the area.

The company, which is making an initial investment of US$422.3 million (RM1.93 billion) into developing its business here, said that the project will be developed in phases. According to Eve Energy Malaysia’s representative director Joe Chan, the construction period for the plant – which will be the company’s 53rd globally – is expected to take no more than three years.

He said that the company’s expansion into Malaysia will enhance its global market presence in the two-wheeled EV and power tool batteries segments. “This is an important milestone for Eve to expand our global businesses, enhance our comprehensive competitiveness and to further grow our global market share,” he said.

Malaysian investment development authority (MIDA) deputy CEO (investment development) Lim Bee Vian said the project aligns perfectly with that outlined in the 12th Malaysia Plan (12MP) and the National Automotive Policy 2020 (NAP) to reduce emissions as well as grow the country’s electric vehicle (EV) ecosystem.

“By establishing this cylindrical battery manufacturing plant in Malaysia, we are demonstrating our commitment to competitiveness in the international market,” she said.

Looking to sell your car? Sell it with MyTukar.

Source: Read Full Article