Eve Energy will invest US$422.3 million (RM1.9 billion) in Kulim, Kedah as part of the International Cylindrical Battery Industrial Park that will generate around 600 jobs for Malaysians in the facility, said the minister of investment, trade and industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz in a Twitter post.
Countries which are established automotive producers have demonstrated the significant impact that the industry can have on job creation and the development of a skilled workforce, as well as for the creation of business opportunities for SMEs, the minister said according to Malay Mail.
“Opportunities abound 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,” the minister was quoted as saying in his keynote address at the memorandum of understanding (MoU) signing ceremony between Eve Energy Malaysia and Pemaju Kelang Lama.
The ministry is looking into policies which will support these sectors in order to ensure that the EV ecosystem is complete and fully supported, including for standards, certification and verification related to charging systems, battery disposal activities, battery swapping as well as wireless charging.
EVE Energy will invest ~USD422.3m in Kulim, Kedah as part of an International Cylindrical Battery Industrial Park that will generate ~600 quality jobs for Malaysians.
MITI will continue to position as the preferred sustainable investment destination & tech partner for EVs. pic.twitter.com/l79GeLdUuA
— Tengku Zafrul (@tzafrul_aziz) May 12, 2023
Last October, the Chinese battery manufacturer was reported to be planning the construction of a battery plant in Malaysia for supplying local as well as regional Southeast Asian customers.
This plant has been said to produce 21700-format battery cells which will go into electric bikes as well as power tools, and the plant is estimated to be constructed in no more than three years, according to the firm’s announcement at the time.
The investment by Eve Energy is part of its growth strategy and long-term plan for building its global market share in the electric two-wheeler segment, the company said in October.
Elsewhere, Eve Energy is one of two battery suppliers that will supply BMW with 46 mm-diameter battery cells for its Neue Klasse range of electric vehicles, the other battery manufacturer being CATL.
The post Eve Energy signs MoU with Pemaju Kelang Lama, to invest RM1.9b in Cylindrical Battery Industrial Park appeared first on Paul Tan's Automotive News.
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