Shanghai (ZXZC)- On November 22, the signing ceremony of the tripartite cooperation agreement between EVE Energy Co., Ltd. ("EVE Energy"), PT Energi Kreasi Bersama ("Electrum"), and Shenzhen Guowei Kechuang New Energy Technology Co., Ltd. ("GWKC") was successfully held.

In line with the collaboration plan, the three parties will leverage their respective strengths, share resources, and collaborate closely to actively expand their presence in the Southeast Asian region. Focusing on electric motorcycle battery systems and battery-swapping operations, they aim to enhance product quality, strengthen service capabilities, improve operational efficiency, and collectively establish a competitive advantage in the market for mutual benefit.

Photo credit: EVE Energy

The partnership encompasses joint efforts to continually optimize and upgrade the design and processes of battery systems, creating a robust competitive edge in the market. Additionally, they plan to establish stable battery system supply assurance and after-sales support services in both domestic and Southeast Asian markets to increase market share in the electric motorcycle battery-swapping operations.

Looking ahead, the three partners have outlined their order goals and supporting supply plans for the next three years. As per initial estimates, from 2024 to 2026, Electrum plans to purchase over 450,000 sets of electric motorcycle battery systems from GWKC, while GWKC plans to procure no less than 800MWh of cylindrical battery cells from EVE Energy.

Electrum, a joint venture between Indonesia's TBS Energi Utama ("TBS") and the Internet giant GoTo Group ("GoTo"), focuses on the development and market operation of electric motorcycles, particularly promoting battery-swapping operations in Southeast Asia. GWKC possesses core technology in lithium battery systems and specializes in the mid-to-high-end electric motorcycle industry, offering R&D, production, sales, and engineering application services for electric motorcycle-specific lithium battery systems.

EVE Energy sees this signing ceremony as a significant step in supporting its electrification journey in Southeast Asia, holding crucial importance for market expansion and internationalization efforts.