KUALA LUMPUR, May 12 (Bernama) -- EVE Energy Malaysia Sdn. Bhd. (EVE) and Pemaju Kelang Lama Sdn. Bhd. have officially signed a Memorandum of Understanding (MOU) today, marking a significant milestone in the establishment of EVE's state-of-the-art manufacturing facility in Malaysia. Located in Kulim, Kedah, the manufacturing plant represents a substantial investment of up to USD422.3 million. This facility will be EVE's 53rd factory and will spearhead the development of an International Cylindrical Battery Industrial Park in Malaysia. The factory will primarily focus on the production of cylindrical lithium-ion batteries for power tools and electric two-wheelers. Furthermore, this project holds the potential to generate 600 new high-quality job opportunities, further contributing to the local economy and employment sector.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), expressed his warm welcome and provided strong support for EVE’s decision to set up in Malaysia. He emphasised, “In our pursuit of unlocking the full potential of EVs, it is crucial to acknowledge the significant role assumed by battery manufacturers. The establishment of a cutting-edge manufacturing facility dedicated to the production of cylindrical lithium-ion batteries in Kulim, Kedah, exemplifies this commitment. Through collaborations with industry leaders like EVE, Malaysia can drive innovation, enhance battery performance, and contribute significantly to the global transition towards sustainable mobility.”

“This MOU will strongly promote local economic development and employment, and further improve the skills of local employees, which can contribute to the development of local supporting, R&D and related industries. The Malaysian government will create an environment that is more suitable for global innovative enterprises to achieve mutually beneficial and win-win developments. We extend our sincerest wishes for EVE to achieve fruitful results beyond expectations”, he added.

The signing of this MOU signifies the advancement of EVE’s Malaysian project, which effectively meets the company's needs to further expand the production capacity of cylindrical batteries to support manufacturers of electric two-wheelers and power tools, primarily Malaysia and Southeast Asia.

Relying on its domestic manufacturing advantages and experiences, EVE’s Malaysian plant will continually have technical innovations. It strives to be an advanced manufacturing and world-class digital smart battery factory. This will further promote the company's overseas businesses and global market share of the electric two-wheelers and power tools markets and enhance EVE’s comprehensive competitiveness, while accelerating the expansion of its overseas businesses and promoting the development of Malaysia.

In welcoming EVE’s presence to Malaysia, Datuk Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA), expressed, “MIDA is committed to attracting quality investments to support the EV supply chain and ecosystem in Malaysia. We are optimistic that EVs will gain more popularity and become more mainstream, primarily due to the growing demand for the green transportation in the ASEAN region. Through proactive initiatives, MIDA is dedicated to positioning Malaysia as the preferred sustainable investment destination leading player in the global value chain and the preferred technology partner for EVs, aligned with the National Investment Aspirations (NIA) and the New Investment Policy (NIP). Let me assure you that we will continue to facilitate and support EVE Energy’s project implementation and its future expansions in Malaysia.”

YB Dato’ Wira Ku Abd Rahman bin Ku Ismail, Senior Member of Kedah State Executive Council (Committee Chairman of Industry & Investment, Higher Education and Science, Technology & Innovation of Kedah Darul Aman), said, “I would like to emphasize that the Kedah State Government is fully committed to supporting businesses and investors throughout their journey in Kedah. Our dedicated agencies, such as Invest Kedah Berhad, are here to provide assistance and facilitate a smooth investment process, starting from pre-investment all the way through to post-investment stages. We understand that challenges may arise, and rest assured, we stand ready to address any concerns and provide the necessary support.”

Dr. Liu Jincheng, in his speech, expressed his gratitude to the Malaysian Government, MITI and MIDA for their care and support for EVE. EVE places great importance to investing in Malaysia and firmly believes that this is a promising and potential market. “We hope to deepen the cooperation with Malaysia and partners in the future, and to make greater contributions to the energy revolution and the Earth. EVE will fully respect and abide by the regulations and laws of Malaysia. During the plant construction and management of operations, we will increasingly promote digital transformation and improve energy efficiency to achieve production development while protecting the environment.” said Dr. Liu.

Managing Director of Bosch Malaysia Klaus Landhaeusser congratulated on the signing ceremony of EVE’s Malaysia plant. “EVE has been Bosch’s focus supplier for lithium-ion cells since 2018. Their expansion plan into Malaysia fits well with our local-for-local strategy. We are confident that EVE as our trusted partner will bring greater flexibility and stability to cylindrical battery supply chain and we look forward to a continued and fruitful collaboration with EVE.” said Landhaeusser. With Bosch's 100 years of establishment in Malaysia, he added that EVE has made the right choice for investing in Malaysia.

EVE was established in 2001 and listed in 2009. After 22 years of rapid development, the company has now become a multinational company focusing on lithium battery powering solutions. Offering core technologies and comprehensive solutions for consumer batteries， power batteries and energy storage batteries. EVE’s products are widely used in the areas of internet of things (IoT), the internet of energy and its lithium-ion batteries are supplied to global first-tier brands. The company has also become one of the top 10 companies in the world in terms of power battery installed capacity, working along with internationally renowned automakers such as BMW, Daimler, Hyundai and Jaguar Land Rover. Its global sales foundation footprint has expanded to the United States, Germany, Malaysia as well as other regions.

MIDA has approved 54 projects totaling RM22 billion in the EV and its related ecosystems from 2018 to 2022. The approved investments include the activity of EV assembly, manufacturing of EV parts and components and its charging components. 

Associated images for the media release can be found at https://drive.google.com/drive/folders/1k3PR-mn1m_kh3zZchR1wl6QsyCmRR0-l

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About EVE Energy Malaysia Sdn. Bhd.

EVE Energy Malaysia Sdn. Bhd. is wholly owned by EVE Energy Co., Ltd. through its subsidiary EVE Asia Co., Ltd. Relying on its domestic manufacturing advantages and operational experience, EVE will build a cylindrical battery production base in Malaysia to support the electric two wheelers and power tools manufacturing enterprises in Malaysia and Southeast Asia. This is an important milestone of EVE to expand global business, enhance its comprehensive competitiveness and global market share in the electric two wheeles vehicle and power tool market. The top management team places much focus in the project, and it will further enrich the global industrial layout of EVE.

SOURCE: Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT: 
MIDA
Name: Mr. Nazuki Abdullah
Director, Transportation Technology Division
Tel: +603-2267 6688
Email: nazuki@mida.gov.my

EVE Energy Malaysia Sdn. Bhd.
Name: Mr. Joe Chan
Director
Tel: +852-2195 3966
Email: joe.chan@evebattery.com

--BERNAMA