EVE Energy's Affiliate Partners with Indonesian State-Owned Firm to Build Full Battery Supply Chain

On January 30, EVE Energy Co., Ltd. (stock code: 300014) announced that HYD Investment Limited, an affiliate in which EVE indirectly holds a 15% stake, has signed a framework agreement with Indonesian state-owned enterprises ANTAM and IBC to jointly advance comprehensive cooperation across the entire new energy vehicle (NEV) battery industry chain in Indonesia. The project will cover the full spectrum of operations—including mining, pyrometallurgical and hydrometallurgical processing, refining, production of precursors and cathode materials, battery manufacturing, and recycling—to establish an integrated battery industry chain. The required ore will be supplied by a subsidiary of ANTAM, aiming to achieve full localization of the supply chain from raw resources to finished battery products.