Smart and Sustainable Electric Mobility
Eve Energy US will hold a 10 percent stake in the joint venture, which will produce batteries primarily for use in designated North American commercial vehicle segments.
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Eve Energy will set up a joint venture in Thailand under which it will build a battery production base with a capacity of at least 6 GWh.
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Eve Energy will build a project for large cylindrical batteries for passenger cars in Hungary over a four-year construction period.
(Image credit: Eve Energy)
Chinese lithium battery maker Eve Energy plans to invest more than $1 billion in a battery plant in Hungary to expand its presence in overseas markets.
Eve Energy's board of directors has given its subsidiary EVE Power Hungary Kft the go-ahead to build a large cylindrical battery project for passenger cars in Hungary, with an investment amount not exceeding RMB 9.97 billion ($1.4 billion).
The project is located in Debrecen, Hungary, and the construction period is four years, according to an announcement yesterday by the Shenzhen-listed company.
The project will help improve the company's global industrial layout and promote the smooth progress of its overseas business, the announcement said.
It will also facilitate the company's rapid response to local demand for new energy vehicle (NEV) power batteries from key customers in Hungary and take on more orders from customers in Europe, Eve Energy said.
EVE Power Hungary signed an agreement on May 9 with Debreceni, a subsidiary of Hungary's Debrecen government, to purchase land owned by the latter in the city's northwest industrial zone for the production of cylindrical power batteries, according to a Shenzhen Stock Exchange announcement at the time.
The land has an area of 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros, according to the announcement.
The deal will meet the company's need for production land for future growth and further scale up its production capacity for power and energy storage batteries, Eve Energy said.
Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.
On September 9, 2022, Eve Energy announced that it had finalized a battery supply relationship with BMW Group to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of models.
BMW also said at the time in a post on its official WeChat account that it had awarded contracts worth more than 10 billion euros to CATL and Eve Energy to meet the demand for cells for the new generation of models.
The two partners will each build two battery plants in China and Europe, each with an annual capacity of 20 GWh, BMW said at the time, adding that it will also look for partners to build two more battery plants in the North American Free Trade Area.
Eve Energy is one of China's largest battery makers, with 1.33 GWh of batteries installed in May, ranking fourth with a 4.71 percent share, according to the China Automotive Battery Innovation Alliance (CABIA) earlier today.
($1 = RMB 7.1227)
China EV battery installations in May: BYD extends lead in LFP market
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The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, Eve Energy said.
(Image credit: Eve Energy)
Chinese lithium battery maker Eve Energy will build a new battery factory in Malaysia, just days after announcing it would build a plant in Hungary.
Eve Energy Malaysia, the Malaysian arm of Eve Energy, signed a memorandum of understanding with Pemaju Kelang Lama Sdn Bhd (PKL) on May 12 to buy land from the latter to set up a lithium battery manufacturing plant in Malaysia, according to a stock exchange announcement.
The land is 66.58083 acres (26.9 hectares) and the price is 164 million ringgit ($36.6 million), according to the May 12 announcement.
The signing of the MOU marks the effective advancement of Eve Energy's cylindrical lithium battery manufacturing project, which will further meet the company's need to scale up its cylindrical battery capacity, the announcement said.
The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, and continue to consolidate and enhance the company's presence in these areas, Eve Energy said.
Eve Energy, one of the world's largest power battery manufacturers, installed 2.4 GWh of batteries worldwide in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.
This puts Eve Energy in 9th place globally with a 1.8 percent share, while CATL and BYD are the top two with 35.0 percent and 16.2 percent shares, respectively.
The announcement comes two days after Eve Energy announced on May 10 that its subsidiary EVE Power Hungary had signed an agreement with Debreceni, a subsidiary of the Hungarian government of Debrecen, to purchase land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells.
The land in Hungary covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million).
The deal will meet the company's need for production land for future growth and further expand its capacity for power and energy storage batteries, Eve Energy said at the time.
Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.
($1 = 4.4755 ringgit)
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Eve Energy sealed a battery cell supply relationship with BMW last September to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of vehicle models.
(Image credit: Eve Energy)
Chinese lithium battery maker Eve Energy will build a power battery factory in Hungary, possibly in preparation for its supply to BMW.
Eve Energy subsidiary EVE Power Hungary signed an agreement on May 9 with Debreceni, a subsidiary of Hungary's Debrecen government, to buy land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells, according to a Shenzhen stock exchange announcement yesterday.
The land covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million), according to the announcement.
The deal will meet the company's need for production land for future growth and further scale up production capacity for power and energy storage batteries, Eve Energy said.
Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.
On September 9, 2022, Eve Energy announced that it had finalized a cell supply relationship with BMW Group to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of models.
BMW also said at the time in a post on its official WeChat account that it had awarded contracts worth more than 10 billion euros to CATL and Eve Energy to meet the demand for battery cells for the new generation of models.
The two partners will each build two battery cell plants in China and Europe, each with an annual capacity of 20 GWh, BMW said at the time, adding that it will also look for partners to build two more core plants in the North American Free Trade Area.
BMW will first use cylindrical cells in new-generation models starting in 2025, and that sixth-generation lithium-ion cell will bring a major technological leap forward, allowing more than 20 percent higher energy density, up to 30 percent higher range and up to 30 percent faster charging, it said at the time.
Eve Energy, one of the world's largest manufacturers of power batteries, installed 2.4 GWh of batteries in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.
This puts Eve Energy in 9th place globally with a 1.8 percent share, while CATL and BYD are in the top two with 35.0 percent and 16.2 percent shares respectively.
($1 = 0.9119 Euro)
NIO sees first swap station roll off line in Europe as Hungarian plant goes into operation
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