Tesla has reportedly contracted EVE Energy to supply energy storage batteries from its new factory in Malaysia, which is still under construction. The China-based company will supposedly start supplying Tesla with storage batteries by 2026.
On December 26, 2024, EVE Energy's shares soared by 6.6% after news broke that the company's Malaysian subsidiary secured a long-term supply commitment from a customer in the United States.
While the public speculates EVE Energy scored a deal with Tesla, the company did not disclose the name of its customer or any specifics about the long-term supply commitment.
EVE Energy's new plant in Malaysia is expected to come online by the first quarter of 2025, which happens to be the same time Tesla's Shanghai Megafactory will begin operations.
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