GEORGE TOWN, August 30 – Enovix Corporation (“Enovix”) and YBS International Berhad (“YBS”) have officially marked a momentous occasion with the signing of the Manufacturing Supply Agreement (MSA), solidifying their strategic partnership and celebrating the establishment of a cutting-edge next-generation battery manufacturing facility in Penang Science Park. Enovix, a leading advanced silicon battery company, and YBS, a Malaysia-based investment holding company with diverse segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, have come together to bring state-of-the-art battery technology to Malaysia.
Caretaker Chief Minister of Penang, YAB Chow Kon Yeow, acknowledged the pivotal role that multinational companies have played in developing the local ecosystem and highlighted the significance of the partnership between YBS and Enovix in further boosting Malaysia’s presence in the global supply chain. The Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), Datuk Wira Arham Abdul Rahman, congratulated Enovix and YBS on their partnership, recognizing the opportunity for local companies to collaborate and integrate into the global supply chain with Enovix’s advanced technology and expertise.
This collaboration aligns perfectly with Malaysia’s National Investment Aspirations (NIA) and the New Investment Plan (NIP), supporting the nation’s goal of becoming an innovation-driven economy. YBS International Berhad’s CEO, Jackie Yong Chan Cheah, expressed excitement about Enovix’s battery technology and the company’s potential to become a market leader. YBS looks forward to supporting Enovix’s goals and growing together in success. Enovix’s COO, Ajay Marathe, expressed his delight in reaching this milestone and affirmed their commitment to scaling operations.
Enovix has established Enovix Malaysia Sdn. Bhd. and hired over 30 people in Malaysia, showing their dedication to the region’s growth and development. Under the MSA, YBS will provide the building, equipment, and labor for Fab2 and the Gen2 Autoline 1, bolstering Enovix’s expansion plans and leveraging Malaysia’s skilled workforce of semiconductor-trained engineers. This strategic partnership between Enovix and YBS signifies a remarkable step forward in advancing battery technology and establishing Malaysia as a significant player in the global battery manufacturing landscape. The facility’s establishment is set to drive innovation, create new career opportunities, and contribute to Malaysia’s robust economic growth.
