Posted on 16 May 2023
Shenzhen-listed lithium battery company EVE Energy announced its Malaysian subsidiary has signed an MOU to secure land for a proposed cylindrical lithium battery production in the Southeast Asian country.
The agreement was signed with Malaysian property development and management company Pemaju Kelang Lama. The measured area of the target land is about 66.58 acres (269,443 square metres), Kallanish notes. The deal remains subject to a final agreement.
Tengku Zafrul, Malaysia's minister of investment, trade and industry (MITI), highlighted at the signing ceremony the growing opportunities for the country in the areas of renewable energy, energy efficiency, energy storage systems, and support services for electric vehicles (EVs), such as EV charging stations, operations and maintenance.
“EVE Energy will invest about $422.3 million in Kulim, Kedah as part of an International Cylindrical Battery Industrial Park that will generate roughly 600 quality jobs for Malaysians,” he says on Twitter. “MITI will continue to position the country as the preferred sustainable investment destination & tech partner for EVs.”
Details on the potential capacity and development timeframe weren't disclosed.
Source:Kallanish
