Chinese EV battery firm Eve Energy to fund Malaysia plant with Hong Kong listing proceeds
Proceeds from the share offering and loans from banks or other institutions would be used to fund the project, the company added.
'The project will propel expansion of the company's overseas businesses and meet the growing global demand for energy storage,' the filing said. 'The plant will help mitigate risks arising from escalating international trade frictions and spur our business growth.'
The new plan is subject to approval by Chinese and Malaysian authorities.
On June 9, Eve, based in Huizhou in China's southern Guangdong province, said its board endorsed a Hong Kong listing plan aimed at bolstering its international expansion, but details about the share offering were still in the works.
According to Seoul-based consultancy SNE Research, Eve had a 2.7 per cent share of the global market for EV batteries in the first four months of 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
a day ago
- South China Morning Post
Malaysia's pioneering violin maker crafts legacy from wood and passion
Tan Chin Seng is Malaysia's first professional violin maker. Over the past decade, he has earned international accolades. The field is still little-known in Southeast Asia, but now, Tan mentors a new generation of violin makers. Traditionally, this job is associated with Italy and other parts of Europe. The craft has now spread globally, with thriving communities in East Asia. Tan was a computer science graduate who used to help his family with their food business and also co-owned a music school. His path to violin-making started in China, on a trip to restore a violin. Curiosity about the instrument's construction led him to master maker Han Zhao Sheng. 'After completing the first violin, I knew this craft was for me,' Tan said.
South China Morning Post
4 days ago
- South China Morning Post
A win for ‘sovereign rights'? Malaysia agrees 19% tariff deal with Trump
US President Donald Trump 's decision to impose a reduced tariff of 19 per cent on Southeast Asia's largest economies was a 'positive outcome', Malaysia said on Friday, even as the region's exporters prepare for the possibility that US consumers may struggle to afford the increased prices on imported goods. Advertisement After months of intense negotiations that panicked the region's export-reliant economies, Trump announced the revised rate in an executive order published late on Thursday. Initially, leaders of the Association of Southeast Asian Nations ( Asean ) were told they would be hit with levies of between 25 and 40 per cent effective August 1. Besides Malaysia, the revised rate of 19 per cent will apply to Cambodia and Thailand – which agreed to a ceasefire after five days of deadly border skirmishes following pressure from Trump – as well as Indonesia and the Philippines. 00:51 US 'made trade deals' with Thailand, Cambodia, commerce secretary Lutnick says US 'made trade deals' with Thailand, Cambodia, commerce secretary Lutnick says Vietnam had earlier secured a 20 per cent rate.
South China Morning Post
4 days ago
- South China Morning Post
Bangladesh wants Malaysia's help to join Asean, but it faces an uphill battle
Bangladesh 's renewed quest for Asean membership comes at a moment of acute internal flux and regional scepticism, as interim leader Muhammad Yunus looks to Malaysia for support but finds the path to entry blocked by questions over governance and stability. Advertisement On Sunday, he revived his country's call for Malaysia's backing to secure a place among the ten-member Association of Southeast Asian Nations. According to his office, Yunus met with Nurul Izzah, daughter of Malaysian Prime Minister Anwar Ibrahim and vice-president of the People's Justice Party, telling her: 'We want to become a part of Asean, and we will be needing your support.' As current Asean chair, Malaysia is positioned to play a key role in advancing Bangladesh's application to become a sectoral dialogue partner – a preliminary step towards eventual full membership. Dhaka first applied for this status in 2020, which is extended to countries engaging with at least two of Asean's sectors, such as trade, economics, and science and technology. Muhammad Yunus took up the post of 'chief adviser' of Bangadesh's interim government days after former prime minister Sheikh Hasina fled last year following a student-led mass uprising. Photo: AFP The road ahead is steep, however. Bangladesh faces 'significant' challenges to joining, according to Doris Liew, an economist specialising in Southeast Asian development. Full membership or even observer status, she warned, would require 'sustained political will, extensive negotiations and overcoming administrative hurdles', with the current momentum driven primarily by Yunus himself.
