EVE Energy’s Phase 2 Energy Storage System Expansion Set to Generate Over 1,000 Jobs for Malaysians

KEDAH, 17 March 2025 – EVE Energy Co. Ltd. (EVE Energy) has officially committed to a significant expansion of its Malaysian operations, signing a landmark Memorandum of Understanding (MoU) with InvestKedah. The agreement, focusing on Phase 2 of EVE Energy’s manufacturing facility development, promises to revolutionise Malaysia’s energy storage capabilities while creating substantial employment opportunities. The MoU was formally signed on 16 March 2025 between Mr. Noor Ikhsan Bin Abdul Aziz, Chief Operating Officer of InvestKedah, and Mr. Liu Jian Hua, President of EVE Energy Co. Ltd. The signing ceremony was witnessed by Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), highlighting the strategic significance of this collaboration. EVE Energy’s “Phase 2 expansion” is designed to meet escalating global demand for energy storage system (ESS) solutions, driving innovation and sustainability within the sector. This project will generate over 1,000 new job opportunities, reflecting the company’s commitment to Malaysia’s economic development. Furthermore, EVE Energy is dedicated to forging strong alliance with Malaysian suppliers, fostering a robust and technologically advanced local supply chain. By prioritising collaboration with local vendors, EVE Energy aims to establish a comprehensive battery manufacturing ecosystem in Malaysia. The influx of international suppliers through this expansion will provide valuable mentorship and technical expertise, empowering Malaysian enterprises and propelling growth within the local industry. YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade, and Industry (MITI), expressed his strong support for the initiative, “EVE Energy’s Phase 2 expansion in Kedah is a powerful testament to how clearly Malaysia has articulated its position as a forward-thinking hub for advanced manufacturing and sustainable energy solutions, through policies such as the New Industrial Master Plan (NIMP) 2030, the National Automotive Policy (NAP) and the National Energy Transition Roadmap (NETR). This strategic investment in cutting-edge battery production for energy storage systems plays a pivotal role in strengthening our national energy security and commitment to environmental sustainability, by advancing the electrification and next-generation vehicle technology. What is equally important is how this helps foster a more robust local supply chain and creates high-value job opportunities, paving the way for Malaysia to lead in Southeast Asia’s green economy.” Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, emphasised the broader significance of this MoU, “The signing of this MoU between EVE Energy and InvestKedah is a testament to Malaysia’s commitment to fostering sustainable economic growth, technological innovation, and the rapid expansion of our EV ecosystem. As we accelerate towards a cleaner and more energy-secure future, strategic investments like this play a vital role in positioning Malaysia as a regional leader in EV and battery technology. With EVE Energy’s expertise and commitment, alongside Malaysia’s strong industrial ecosystem, we are not just building factories—we are building opportunities, empowering local talent, and strengthening our position in the regional clean energy supply chain.” Mr. Liu Jincheng, Chairman and Founder of EVE Energy Co. Ltd, stated that, “EVE Energy’s Malaysia factory, as the first step in its global expansion, will focus on creating an international benchmark project. It aims to drive the green energy transformation through technological innovation and advanced manufacturing capabilities, contributing to local economic development and job growth. He expressed special gratitude to Malaysian government for their strong support of the expansion project and emphasised that the deepened cooperation between both parties plays a crucial role in promoting the high-quality development of the new energy industry chain in Southeast Asia. Malaysia’s Commitment to Sustainable Mobility In 2024, Malaysia recorded RM15.8 billion in approved investments in the transport equipment sector, reflecting the nation’s strong commitment to building a sustainable mobility ecosystem. By leveraging this momentum, EVE Energy’s expansion will contribute significantly to the advancement of EV technology, reinforcing Malaysia’s position as a leader in clean energy solutions and accelerating the transition towards net-zero emissions.