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.

In China, Eve Energy's June installations were 1.48 GWh, placing it fourth with a 4.51 percent share, according to China Automotive Battery Innovation Alliance (CABIA).

On June 9, Eve Energy said its board of directors agreed that its subsidiary Eve Power Hungary Kft would invest up to RMB 9.97 billion ($1.4 billion) to build a large cylindrical battery project for passenger cars in Hungary.

The project is located in Debrecen, Hungary, and has a four-year construction period, according to an announcement last month.

Earlier today, Eve Energy's local counterpart Sunwoda announced plans to build a power battery factory in Hungary with an investment of up to RMB 1.96 billion.

($1 = RMB 7.1464)

Eve Energy to invest up to $1.4 billion in Hungary battery plant