On January 30, Huizhou EVE Energy Co., Ltd. released two consecutive announcements disclosing the company’s latest moves to strengthen its global supply chain and expand its domestic research and development capabilities. An equity-participating company of EVE Energy intends to invest in the construction of an integrated battery industrial project in Indonesia, while its subsidiary, Hubei EVE Power, has completed the business registration for its Wuhan R&D Branch.

Building a "Mine-to-Battery" Full Industry Chain in Indonesia

According to the announcement, HYD Investment Limited ("HYD"), a company in which EVE Energy holds an equity stake, signed a Framework Agreement on January 30, 2026, with the Indonesian state-owned mining company ANTAM and the Indonesia Battery Corporation (IBC). HYD was jointly established by a wholly-owned subsidiary of Huayou Cobalt, a wholly-owned subsidiary of EVE Energy (holding a 15% stake), and a wholly-owned subsidiary of PT Daaz Bara Lestari Tbk.

The three parties plan to leverage their respective resource advantages to build a vertically integrated project in Indonesia ranging from mine extraction to battery recycling. The cooperation covers multiple links in the supply chain, including nickel mining, pyrometallurgical and hydrometallurgical smelting, refining, the manufacturing of precursors and cathode materials, as well as battery production and recycling.

The tentative project capacity planned in the agreement is substantial. The pyrometallurgical smelting project is targeting an annual output of 100,000 tons of nickel products (calculated by metal content), while the hydrometallurgical smelting project targets 50,000 tons annually. On the battery manufacturing side, the plan includes a nickel-based battery project with an annual capacity of 20GWh, of which Phase I will have a capacity of 7GWh. Additionally, the project includes the annual production of 105,000 tons of precursors, 30,000 tons of cathode materials, and a battery recycling project with a capacity not exceeding 10,000 tons.

Wuhan R&D Branch Lands in "Optics Valley"

On the same day, EVE Energy disclosed the progress regarding the establishment of a branch by its subsidiary, Hubei EVE Power Co., Ltd. EVE Power has recently completed industrial and commercial registration procedures and received a business license issued by the Wuhan Market Supervision Administration.

The newly established branch is named "Hubei EVE Power Co., Ltd. Wuhan R&D Branch," with Liu Yiqing serving as the principal. The branch is located in the Kunlong Building in the Wuhan East Lake New Technology Development Zone (Optics Valley). Its business scope primarily covers research and development in emerging energy technologies, R&D in new material technologies, as well as related technical services and transfers.

The establishment of the Wuhan R&D Branch is a concrete measure to implement the board resolution from December 31, 2025. It aims to utilize Wuhan's resource advantages to further enhance the company's research and development capabilities in the fields of emerging energy and materials.

Source：EnergyTrend