KUALA LUMPUR & CALIFORNIA, Aug 8 (Bernama) -- 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.

YB 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 YB 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.

YB 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.

Associated images will be uploaded via this link once available:
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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for the promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn; Whatsapp Channel.

About Enovix

Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

SOURCE: Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT: 
MIDA
Name: Ms. Noor Suziyanti Saad
Electrical and Electronics Division
Tel: +603-2267 3575
Email: suziyanti@mida.gov.my

InvestPenang
Name: Elaine Cheah / Michelle Goy
Communications & Business Intelligence
Tel: +604- 646 8833
Email: elaine@investpenang.gov.my / michelle@investpenang.gov.my

Enovix Corporation
Name: Charles Anderson
Tel: +1 (612) 229-9729
Email: canderson@enovix.com

--BERNAMA