KUALA LUMPUR, Malaysia, Aug 30 (Bernama) -- Zhuhai CosMX Battery Co Ltd, (SHH: 688772), a global manufacturer of consumer lithium-ion batteries and power lithium- ion batteries, has announced plans to build its first manufacturing plant in Kedah, Malaysia. The new facility under Unimx Technology Malaysia Sdn. Bhd. will be implemented in several phases at Kulim East Industrial Park, with groundbreaking expected to begin soon (in the last quarter of 2024). This substantial RM1 billion investment marks a significant milestone in the company’s global expansion strategy, towards enhancing its manufacturing capabilities to serve the increasing demand in the lithium-ion battery segment globally.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) congratulated the company, stated, “Zhuhai CosMX’s RM1 billion investment clearly affirms Malaysia’s position not only as a preferred investment destination for tech-based companies, but also as a country that is serious about the swift implementation of investors’ commitments. MITI and MIDA’s strong drive to creating the right environment for businesses to thrive have resulted in increased investment flows, more high-skilled jobs, as well as a stronger boost to our E&E supply chain and semiconductor exports. This investment also aligns with the mission of our New Industrial Master Plan (NIMP) 2030 to enhance our industries’ economic complexity, while helping to solidify Malaysia’s position as a key manufacturing and services hub for ASEAN and Asia.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), warmly welcomed the new investment from Zhuhai CosMX in Malaysia, stating “We’re excited about this project, which is set to create over 1,000 jobs and boost our nation’s skilled workforce and tech capabilities. Revolutionising battery technology is no easy task, but MIDA is proud to support and facilitate Zhuhai CosMX on this ambitious journey. Their cutting-edge expertise is going to have a big ripple effect on our local ecosystem. As a partner, we are committed to providing Zhuhai ÇosMX with the support and facilitation they need for the project to succeed, and we’re confident that their presence will have a positive impact on both the economy and rakyat.”

YB Dr. Haim Hilman bin Abdullah Kedah State Executive Council Members (Committee Chairman of Industry & Investment, Higher Education and Science, Technology & Innovation of Kedah Darul Aman) said as a pro-business government, Kedah State Government welcomes Zhuhai CosMX to set up their lithium-ion battery factory in Kulim, Kedah. There is a lot of potential for Kulim East Industrial Park to be the new hub for energy storage production in the northern part of Malaysia. This investment is a testament to the state's economic potential and confidence in our investment climate. We hope this investment will result in economic growth, technology transfer and skill development, ultimately benefiting our workforce and society.
 

In addition, Mr. Noor Ikhsan Abdul Aziz, Chief Operating Officer of the Invest Kedah Berhad said “Alongside MIDA, Invest Kedah Berhad, as the state’s One-stop Center agency is here to provide assistance and facilitate a smooth investment process, all the way starting from pre-investment until post-investment stages. We understand that challenges may arise, and rest assured, we stand ready to address any concerns and provide the necessary support.”

Mr. Xu Yanming, Chairman of CosMX, said "On behalf of CosMX, I express immense joy and pride in the upcoming investment to construct a lithium-ion battery factory in Malaysia. This marks a significant step in our global strategic deployment and is a testament to our recognition and trust in Malaysia as an investment destination. We extend our heartfelt gratitude to MITI, MIDA, and Invest Kedah for their support and assistance. CosMX has always adhered to the concept of green development, committed to reducing environmental impact through technological innovation and industrial upgrading. We are looking forward to working together with our Malaysian partners and community to build this factory into a model project, achieving success not only economically but also setting a benchmark in promoting sustainable development."

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 InvestKedah

Invest Kedah Berhad (IKB) is an Investment Promotion Agency (IPA) for the State of Kedah that acts as the first window or One Stop Centre for all investments into the State of Kedah. IKB was entrusted by The Kedah State Government to attract, facilitate and support business investments in Kedah. IKB plays the vital role of working with government agencies and local authorities to ensure a seamless setup process for local and international investors starting from pre-investment until post-investment stages. For the first quarter of 2024, Invest Kedah helped Kedah to secure the top spot with an investment of RM31.3 billion which is the highest among the states in Malaysia. For more information, please visit www.investkedah.com and follow us on our social media platforms.

About Zhuhai CosMX Battery Co Ltd

CosMX was established in 2007 and headquartered in Zhuhai. It has three main production bases in Zhuhai, Chongqing, Zhejiang and has established a factory in India. CosMX is one of the worldwide major suppliers of consumer Li-ion batteries, and has long served for world's well-known customers in the field of PCs, notebooks, tablets, smart phones, smart wearables, power tools, drones and other fields.
 

In the field of power batteries, CosMX have been recognized as qualified supplier for many automotive manufacturers after years of accumulation. At present, CosMX has entered the fields of electric motorcycles, automotive start-up batteries, energy storage, and will proceed into BEV and high-voltage energy storage fields based on market trends and its own strategic position. Additional information can be found at http://www.cosmx.com/.

SOURCE: Malaysian Investment Development Authority (MIDA)​

FOR MORE INFORMATION, PLEASE CONTACT:
MIDA

Name: Ms. Noor Suziyanti Binti Saad
Director, Electrical and Electronics Division 
Tel.: +603-2267 3575
Email: suziyanti@mida.gov.my
 
InvestKedah

Name: Mr. Noor Ikhsan bin Hj. Abdul Aziz
Chief Operating Officer
C Block, 3rd Floor
Wisma Darul Aman
05503 Alor Setar, Kedah
Tel: (6) 04-702 7373 | Fax: (6) 04-702 7382 
Email: ikhsan@investkedah.com
 
Zhuhai CosMX Battery Co Ltd

Name: Mr. Li Junwei
Vice President
Email: investor@cosmx.com 

--BERNAMA