Shanghai (ZXZC)- On January 12th, EVE Energy's subsidiary, Hubei EVE Power Co., Ltd. (referred to as "EVE Power"), reached a cooperative consensus with Turkish company Aksa Jeneratör Sanayi A.Ş (referred to as "Aksa") by signing a memorandum of understanding (MoU), according to EVE Energy's press release.

Photo credit: EVE Energy

This collaboration is geared towards the establishment of a joint venture in Turkey between the two parties. The joint venture aims to engage in the production, marketing, and sales of battery modules, outdoor cabinets, and containers. Furthermore, it will act as the engineering, procurement, and construction contractor for energy storage system projects in Turkey.

Turkey's government has undertaken a series of policies and measures in recent years to align with global energy trends. The enactment of the "Law on Incentives for Electricity Storage" and the announcement of the "National Renewable Energy Action Plan" have provided robust support for the development of Turkey's energy market. The anticipated continuous growth in Turkey's energy demand over the coming years is a direct outcome of these initiatives.

Aksa, as a leading power plant and grid operator in Turkey, brings valuable experience and resources to the energy market. On the other hand, EVE Energy, a global leader in battery manufacturing with 23 years of expertise in lithium battery research and development, maintains a consistent position at the forefront of the global lithium battery market. In 2023, EVE Energy initiated power and energy storage battery manufacturing operations in Hungary, Malaysia, and the United States, gradually establishing a new paradigm of "global manufacturing, global delivery, and global service."

The establishment of this joint venture represents a synergistic combination of Aksa and EVE Energy's dual strengths. By integrating Aksa's local market resources and EVE Energy's lithium battery manufacturing capabilities, the joint venture is poised to inject vibrant energy into Turkey's rapidly advancing energy market.