The facility, spanning approximately 484,000 square meters, will focus on producing high-safety, high-reliability, and long-life energy storage batteries. The construction is expected to be completed within 2.5 years. Funding for the project will come from a combination of internal capital, equity financing, and self-raised funds, such as bank loans and other financial instruments. The Malaysian subsidiary is fully owned by EVE Asia Co., Ltd., a wholly-owned subsidiary of EVE Energy.
EVE Energy emphasized the strategic importance of this initiative: "This investment will enhance our ability to meet global battery demand while strengthening our position in the international lithium battery market." The move aligns with the company’s goal to expand its overseas operations and maintain a competitive edge in the energy storage sector.
In 2024, EVE Energy reported significant growth in its energy storage battery segment, shipping 50.45 GWh, a 92% increase compared to the previous year. This segment contributed 39% to the company’s total revenue, up six percentage points from 2023, with a gross profit margin of 14.7%, surpassing that of its power battery segment. The company’s focus on energy storage reflects its growing role in EVE Energy’s business strategy, driven by rising global demand for sustainable energy solutions.
The new facility in Malaysia is expected to bolster EVE Energy’s production capacity and support its long-term growth in the global energy storage market. By leveraging advanced technology and strategic investments, the company aims to deliver high-quality energy storage solutions to meet diverse market needs.
