Posted on 26 Jan 2024
Chinese battery firm Eve Energy has announced its wholly-owned subsidiary Eve Energy Malaysia has signed an MOU with Invest Kedah – formerly known as Kedah Investment Centre. They plan to jointly construct energy storage capacity in Malaysia, Kallanish reports.
The rough plan is that the two parties will establish an energy storage company in Malaysia, and acquire a new land area for the battery factory. More details are yet to be disclosed.
“Since the construction of Eve Energy’s 53rd factory started construction in Malaysia last year, Eve Energy has established mature manufacturing capabilities and technical reserves in Malaysia,” comments Chen Xingyu, general manager of Eve Energy’s overseas business unit. “While Injecting vitality into the local economy, Eve Energy has also been widely recognised by the Malaysian market. Based on previous successful cooperation and the booming development of the Malaysian energy market, Eve Energy and Invest Kedah have reached a new cooperation consensus in the field of energy storage.”
The 53rd factory he mentioned referred to the 21700-type cylindrical cell factory which broke ground in August 2023 in Kulim.
Noor Ikhsan Abd Aziz, chief operating officer of Invest Kedah, says the company will fully support the development of Eve Energy in the northwestern state of Kedah in the future. “As the core investment promotion department of the Kedah state government of Malaysia, Invest Kedah successfully attracted MYR 68.3 billion ($14 billion) in investment in 2021, setting a record high, fully demonstrating its influence,” the executive adds.
To achieve the goal of carbon neutrality in 2050, the Malaysian government released a national energy transformation roadmap in 2023, planning to increase the proportion of renewable energy installed capacity from 25% to 70% by 2050. For that, it is putting efforts in policy, finance and market to promote the development of the renewable energy market.
Source:Kallanish
