KUALA LUMPUR: Enovix Corporation has opened its first high-volume manufacturing facility (Fab2) in Malaysia and plans to invest US$1.2 billion here over 15 years.
The facility produces high-energy density batteries and is currently hosting visits from leading global customers.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Enovix's Fab2 is a huge step for Malaysia in the global supply chain for advanced battery technologies, highlighting the country's conducive investment landscape.
"It also fulfils our objective to attract the right high-tech industries to enhance the nation's economic complexity, as outlined in the New Industrial Master Plan (NIMP) 2030.
"We welcome this new facility, which is a significant milestone for Enovix, and strongly supports our NIMP's goals by fostering innovation, creating high-value jobs, and driving sustainable growth, while increasingly positioning Malaysia a global hub for cutting-edge technology," he said in a statement today.
Meanwhile, Penang deputy chief minister II Jagdeep Singh Deo said the facility signifies the beginning of an exciting chapter for Enovix.
He added that it will bring technological and economic spillovers for not only Penang, but the northern region of Malaysia.
Malaysian Investment Development Authority chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said Enovix's significant investment here will create jobs and enhance the country's workforce's technological capabilities.
"MIDA is proud to support Enovix in their mission to revolutionise battery technology, and we believe that their cutting-edge expertise will have a multiplier effect on our local ecosystem."
Enovix chief operating officer Datuk Ajay Marathe said Fab2 showcases the company's advanced manufacturing process for cutting-edge batteries that it believes will usher in a new era of products for leading customers.
"We have been able to draw upon Malaysia's deep pool of technical talent and are appreciative of the country's business-friendly climate and close proximity to our customers and vendors," he said.
Enovix, headquartered in the United States of America, also operates in India, Korea and Malaysia.
Its battery technology is utilised across a diverse range of application, including internet of things, mobile phones, computing devices and vehicles.