Chinese battery manufacturer EVE Energy is set to invest USD 1.2 billion to establish a large-scale energy storage manufacturing facility in Malaysia, marking a significant step in its global expansion strategy. The facility will be located in Kulim, Kedah, within the Kulim Hi-Tech Park, and will primarily support the company’s international energy storage business.
EVE Energy’s move aligns with its ambitions to expand manufacturing capabilities outside China, catering to increasing global demand for lithium battery storage solutions. The project will focus on producing energy storage system (ESS) cells and aims to serve clients in key international markets.
The investment will be spread over a decade and is part of EVE’s broader strategy to establish itself as a key player in the global energy storage sector. The plant will cover the full production chain—from cell to module and system integration—emphasizing vertical integration for efficiency and cost control.
Proceeds from the company’s recent secondary listing on the Hong Kong Stock Exchange will partially fund the project, reflecting investor confidence in its long-term growth potential. The Malaysian government and the Malaysian Investment Development Authority (MIDA) have welcomed the project, viewing it as a boost to the nation’s clean energy ecosystem and industrial capabilities.
This initiative is expected to generate high-value employment opportunities in Malaysia and support the country’s target of becoming a regional clean energy hub. It also highlights the increasing significance of Southeast Asia as a manufacturing base for global energy transition technologies.
