(Yicai Global) March 7 -- China's EVE Energy may provide Seoul-based Hyundai Kia Automotive Group with new energy vehicle batteries if it can ramp up its production. A new plant is in the works.

EVE Energy plans to invest in a new soft pack battery cell factory with Huizhou Zhongkai High-tech Industrial Development Zone in order to meet Hyundai's demand, the Huizhou-based power unit maker said in a statement yesterday. The contract would involve a contract of almost 13.5 gigawatt hours spanning over six years.

The fixed assets of the construction project are estimated to cost CNY3 billion (USD446.9 million), involve a capacity of no less than 5.8 GWh, and take three years to finish. 

Editor: Emmi Laine