Gasgoo Munich - EVE Energy has officially completed the Phase II plant at its Malaysia base, accelerating its push to build overseas capacity and expand its global footprint.
Image source: EVE Energy
The Malaysia project is scheduled to launch operations on February 16, 2025, with a total designed capacity of 684 million units across 15 production lines. Phase I involves a maximum investment of $420 million (roughly 2.99 billion yuan), focusing on the production of prismatic and cylindrical lithium-ion batteries. This facility serves as a strategic hub for EVE Energy to penetrate the Southeast Asian market.
The completion of the Phase II plant marks a milestone for the Malaysia base, signaling a shift into large-scale production and efficient operational management. This move will further bolster EVE Energy's delivery capabilities within its overseas manufacturing network, providing a solid foundation for future capacity ramp-ups, operational efficiency gains, and localized supply chain synergy.
EVE Energy is advancing capacity construction across multiple key global markets. In Hungary, the company is investing 1 billion euros (about 8.2 billion yuan) for a 28 GWh facility with three production lines, slated for mass production in 2027. Focused on 46-series cells, this project aims to deeply penetrate the European new energy market. Meanwhile, the U.S. project plans a 21 GWh capacity across four lines, also targeting mass production in 2027. Specializing in prismatic lithium iron phosphate (LFP) batteries, the $2.64 billion project involves EVE Energy America holding a 10% stake with a $150 million cash investment, leveraging local production to meet policy requirements.
Separately, HYD Investment Limited—a joint venture formed by EVE Energy, Huayou Cobalt, and PT Daaz Bara Lestari—has officially signed a framework agreement with Indonesian state mining company ANTAM and state battery company IBC. The partnership aims to establish a full new energy industry chain in Indonesia, marking a critical breakthrough in the company's globalization strategy.
