KUALA LUMPUR, November 17 – Enovix Corporation, the advanced silicon battery company, has announced its strategic move to establish its first high-volume manufacturing facility, Fab2, in Malaysia. This development, following the initial announcement in August 2023, signifies a major step in Enovix’s global expansion strategy. The company will invest a total of RM5.8 billion (USD1.2 billion) in Malaysia over a 15-year period, including the first manufacturing line amounting to RM315 million (USD70 million), in collaboration with YBS International Berhad.
This decision was communicated during a meeting with the Prime Minister of Malaysia, Dato’ Sri Anwar Ibrahim, at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week 2023 in San Francisco, USA. YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, the Minister of MITI, welcomed Enovix’s strategic decision, emphasizing its alignment with Malaysia’s New Industrial Master Plan (NIMP) 2030. The move is expected to create high-quality job opportunities, contribute to the nation’s industrial landscape, and foster local partnerships in the battery technology industry. Datuk Wira Arham Abdul Rahman, CEO of MIDA, expressed confidence in Enovix’s contribution to Malaysia’s economic progress and R&D ecosystem.
Ajay Marathe, COO of Enovix, highlighted Malaysia’s technical talent pool, business-friendly environment, and proximity to vendors as factors influencing the decision, with full operations expected to commence in 2024. Enovix, headquartered in the United States with global locations, focuses on battery technology applications in IoT, mobile, computing devices, and vehicles. Enovix’s expansion into Malaysia reinforces the country’s appeal as a preferred destination for advanced technology companies and positions it as a key collaborator in the evolving battery supply chain ecosystem.
