US-based Enovix inaugurates high-volume manufacturing facility Penang
08 Aug 2024
Enovix Corporation, a global leader in high-performance battery technology, held the grand opening of its first high-volume manufacturing facility (Fab2) in Penang today.
The state-of-the-art facility has commenced production of high-energy density batteries and is currently hosting visits from leading global customers. US-based Enovix plans to invest a total of US$1.2 billion (RM5.8 billion) in Malaysia over the next 15 years.
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 our 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 2030 (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 as a global hub for cutting-edge technology.”
Penang Deputy Chief Minister II Jagdeep Singh Deo stated, “Today’s opening ceremony for the establishment of Enovix’s first high-volume manufacturing facility in Malaysia signifies the beginning of an exciting chapter for the company. The state is honoured to be selected to house this esteemed facility which will definitely bring positive technological and economic spillovers for not only Penang, but the northern region of Malaysia.”
Malaysian Investment Development Authority CEO Sikh Shamsul Ibrahim Sikh Abdul said Enovix’s significant investment in Malaysia will create jobs and enhance workforce’s technological capabilities.
Enovix chief operating officer Datuk Ajay Marathe said, “We are thrilled to open our doors at Fab2 and showcase our advanced manufacturing process of a cutting-edge batteries that we believe 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.”
Enovix, headquartered in the United States, has production operations in India, South Korea and Malaysia. Enovix’s innovative battery technology is utilised across a diverse range of application, including Internet of Things, mobile phones, computing devices and vehicles.
Source: The Sun
