June 27, 2025 | Kedah, Malaysia – Chinese lithium‑battery manufacturer EVE Energy announced that its wholly owned subsidiary, EVE Energy Storage Malaysia Sdn. Bhd., will invest up to RMB 8.654 billion (about US $1.2 billion) to establish a new energy‑storage battery production facility in Kulim, Kedah.
According to disclosure by EVE Energy on June 27, funding for the project will come from internal reserves, share issuance proceeds, and/or other financing channels such as bank loans or self-raised capital. The facility will occupy approximately 484,000 m², with a construction timeline capped at 2½ years.
This expansion marks a strategic continuation of EVE Energy’s overseas growth. It follows the successful commissioning of its first Malaysian plant, which began operations in February producing cylindrical batteries with a capacity of 680 million units annually. The forthcoming plant, part of what the company calls its “high‑safety, high‑reliability, long‑life new energy storage project,” is expected to add energy‑storage battery output in the range of 10–15 GWh per year.
EVE Energy emphasized that the project will strengthen its ability to meet global demand for grid‑scale storage, reduce risks from international trade frictions, and reinforce its global industrial footprint. In 2024, the company’s energy‑storage battery shipments reached 50.45 GWh—a 92 percent year‑on‑year increase—accounting for 39 percent of total revenue and achieving a gross margin of 14.7 percent.
The timing coincides with EVE’s planned Hong Kong H‑share listing, intended to raise funds that will support global expansion, including this Malaysian project . The company is currently a Tier‑1 global battery provider, ranked 9th largest EV battery maker in 2024 based on SNE Research data.
Construction will still require approvals from both Chinese and Malaysian authorities. However, management is confident that the addition of this new facility will anchor EVE Energy’s leadership in Southeast Asia, enhance supply-chain resilience, and cement its role in the global energy‑storage ecosystem.