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An advanced silicon battery company will establish its first high-volume manufacturing facility in Malaysia. This marks a significant milestone in the company’s global expansion strategy. Further to the initial announcement in August 2023, the company declared it would invest a total of RM5.8 billion (USD 1.2 billion) in Malaysia over 15 years. This includes the first manufacturing line amounting to RM315 million (USD 70 million), which will co-partner with a local partner.
The company’s investment plan was disclosed to YAB Prime Minister, Dato’ Sri Anwar Ibrahim, during a one-on-one meeting, held at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week 2023, in San Francisco, USA.
The meeting was facilitated by the Ministry of Investment, Trade & Industry (MITI) and its agency, the Malaysian Investment Development Authority (MIDA), who extended a warm welcome to the company for selecting Malaysia as the location of choice for the company’s business expansion.
YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of MITI was delighted with the company’s strategic decision to establish its first high-volume manufacturing facility in Malaysia. It was proof, he felt, of Malaysia’s appeal as a preferred investment destination in Southeast Asia for advanced technology companies.
This establishment of a hi-tech battery technology facility in Malaysia is in perfect alignment with the missions of the country’s New Industrial Master Plan (NIMP) 2030, and promises significant local spillover impact, notably the creation of substantial high-quality job opportunities for Malaysians, and the enhancement of the nation’s industrial landscape.
Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA also expressed his appreciation of the company’s dedication to Malaysia, acknowledging that their presence would act as a catalyst for nurturing mutually advantageous partnerships with local stakeholders, especially in the battery technology industry.
As the company lays down its foundations in Malaysia, Datuk Wira Arham Abdul Rahman foresees its transformation into a key industry collaborator and contributor to national economic progress and development. The investment in Malaysia is a testament to the company’s trust in the nation’s capabilities and workforce and fortifies Malaysia’s R&D ecosystem. MIDA looks forward to a strengthened partnership with the company in the years ahead.
The Chief Operating Officer of the company said that after three decades of working closely with the Malaysian Government authorities and having successfully built and run several large factories, choosing Malaysia for their first high-volume manufacturing facility was an easy decision.
Malaysia’s deep pool of technical talent, business-friendly environment and proximity to vendors and customers’ manufacturing facilities, make it an ideal location for the company to help develop the battery supply chain ecosystem and manufacture and scale our next-generation batteries.
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.
OpenGov Asia reported on the significant leap in the automotive industry that was unveiled with the commencement of an automotive manufacturing facility in Melaka, a region known for its burgeoning role in the global shift towards sustainable vehicles.
The CEO of MIDA stated that the move underscores the nation’s cutting-edge capabilities in automotive manufacturing, with a specific focus on EEVs and EVs, aligning seamlessly with the Low Carbon Mobility Blueprint (LCMB), National Automotive Policy (NAP) 2020, and Malaysia’s New Industrial Master Plan 2030 (NIMP 2030).
In another successful negotiation, a United Arab Emirates’ clean energy powerhouse joined forces with the Malaysian Investment Development Authority (MIDA) in a landmark agreement that will see an RM 38.14 billion (US$ 8 billion) investment in renewable energy projects in Malaysia. This partnership is set to play a pivotal role in Malaysia’s journey towards a more sustainable and greener future.
