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Eve Energy and Invest Kedah signed an MoU to Establish an Energy Storage Plant in Malaysia

Last Updated on 31st January 2024

China-based Eve Energy has inked a memorandum of understanding with Invest Kedah to set up an energy storage plant in Malaysia. The agreement paves the way for the creation of "EVE Energy Storage Malaysia Company," tasked with acquiring land and constructing the state-of-the-art facility.


Eve Energy and Invest Kedah signed an MoU to Establish an Energy Storage Plant in Malaysia


This dedicated plant will address Malaysia's growing demand for energy storage solutions, crucial for integrating renewable energy sources like solar and wind into the grid. Furthermore, the MoU builds upon Eve Energy's existing commitment to Malaysia.


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In August 2023, they announced a USD 422 million investment in Kedah to manufacture cylindrical lithium batteries for electric two-wheelers and power tools. Now, they're extending their footprint to tackle the crucial storage aspect of the clean energy equation.


This collaboration resonates with Malaysia's National Energy Transformation Roadmap (NETR), which aims for a 70% share of renewable energy in its installed capacity by 2050. Invest Kedah, the Kedah State Government's investment arm, played a pivotal role in attracting this major investment, reaffirming their dedication to attracting cutting-edge technologies and sustainable infrastructure projects.


This MoU signifies a major leap forward for Malaysia's renewable energy ambitions. The energy storage plant promises to not only create jobs and boost the local economy but also pave the way for a cleaner, more sustainable future for the nation. With Eve Energy's expertise and Invest Kedah's commitment, Malaysia is well-positioned to become a leader in Southeast Asia's green energy revolution.


Read: Global Energy Storage Systems (ESS) Market Outlook


About Eve Energy


Eve Energy and Invest Kedah signed an MoU to Establish an Energy Storage Plant in Malaysia


Eve Energy is a Chinese battery giant that has been making waves in the clean energy industry. Founded in 2011, the company has quickly grown to become one of the world's leading manufacturers of lithium-ion batteries, with a focus on cylindrical batteries for electric vehicles and energy storage systems.


Eve Energy's products are used in a wide variety of applications, including electric vehicles, energy storage systems, consumer electronics, and industrial equipment. The company is committed to developing cutting-edge battery technology and has invested heavily in research and development.


Read: Asia-Pacific Battery Energy Storage Market Report


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