Enovix Corporation an advanced silicon battery company and YBS International Berhad have signed a Manufacturing Supply Agreement to establish a cutting-edge next-generation battery manufacturing facility in Penang Science Park.
Jackie Yong Chan Cheah, CEO of YBS International Berhad, expressed, “Enovix has an exciting battery technology. We believe Enovix will become a market leader and we look forward to supporting the company’s goals and sharing in its growth and success.”
Ajay Marathe, COO of Enovix Corporation, said, “We’re thrilled to announce this significant milestone in our journey to scale. In addition to working with YBS, we look forward to collaborating with MIDA, the Northern Corridor Economic Region, and InvestPenang to secure investment incentive which will support our long-term goals in Malaysia. Malaysia, and especially the Penang region, is rich with semiconductor-trained engineers who have a manufacturing-excellence mindset. We’re pleased to advance our presence in the region to support our rapid growth.”
As part of the MSA, YBS, under the direction of Enovix, will provide the building and capital for equipment and labour for Fab2 and the Gen2 Autoline 1. Enovix announced earlier this year that it established Enovix Malaysia Sdn. Bhd. In addition, the company has hired over 30 people in Malaysia including the two leaders announced in March this year.
