CALIFORNIA, MALAYSIA, August 8 2024 – Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global leader in high-performance battery technology, is proud to announce the grand opening of its first high-volume manufacturing facility (“Fab2”) in Malaysia. This state-of-the-art facility has already commenced the production of high-energy density batteries and is currently hosting visits from leading global customers. Enovix plans to invest a total of USD1.2 billion (RM5.8 billion) in Malaysia over the next 15 years.
Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade, and Industry (MITI), stated, “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 (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.”
Present at the ceremony today were Jagdeep Singh Deo, Penang’s Deputy Chief Minister II as well as senior officials of the Malaysian Investment Development Authority (MIDA), extended a warm welcome to Enovix for selecting Malaysia as the location for its state-of-the-art facility.
Jagdeep Singh Deo stated, “Today’s opening ceremony for the establishment 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.”
Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer (CEO) of MIDA, expressed, “Enovix’s significant investment in Malaysia will create jobs and enhance our 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. As a partner, we’re committed to providing Enovix with the support and facilitation they need to succeed, and we’re confident that their presence will have a positive impact on the nation’s economy and rakyat. We’re looking forward to working closely with Enovix to achieve their goals and make a difference in the industry.”
Dato’ Ajay Marathe, Chief Operating Officer of Enovix, 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 of America, also operates in India, Korea and Malaysia. Enovix’s innovative battery technology is utilised across a diverse range of application, including internet of things (IoT), mobile phones, computing devices and vehicles.
Leave a comment