Expanding Footprint: Enovix Corp Invests $1.2 Billion in State-of-the-Art Manufacturing Hub in Malaysia for Advanced Silicon Batteries

Enovix Corporation, a Silicon Valley-based company specializing in advanced silicon batteries, is set to establish a high-volume manufacturing facility in Malaysia, as announced by the Malaysian Investment Development Authority (MIDA) in a statement on Thursday.

The investment, totaling 5.8 billion ringgit ($1.23 billion), will be allocated over a 15-year period, with the initial manufacturing line accounting for 315 million ringgit, according to MIDA.

The company's investment plan was presented to Prime Minister Anwar Ibrahim during a meeting held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the United States, as reported by MIDA.

"Enovix's (investment)...promises significant local spillover impact, notably the creation of substantial high-quality job opportunities for Malaysians, and the enhancement of our nation's industrial landscape," Malaysia's Investment, Trade and Industry Ministry Tengku Zafrul Abdul Aziz said in the statement.

Enovix is committed to fueling the advancements in future technologies. Whether it's IoT, mobile devices, computing equipment, or the vehicles we rely on, there is a growing demand for superior batteries. Leveraging its innovative architecture, Enovix is developing batteries that offer high energy density and capacity while maintaining a strong emphasis on safety. To meet the increasing needs of its customers, the company is expanding its manufacturing capabilities for silicon-anode, lithium-ion batteries.

“Since we launched our Journey to Scale earlier this year, we’ve made tremendous progress. We’re on track to move to high volume production in Malaysia in 2024 and deliver an industry-leading battery,” said Ajay Marathe, Enovix COO.

Leadership | Enovix Corporation

Dr. Raj Talluri, President & CEO: Dr. Raj Talluri assumed the roles of president, chief executive officer, and director upon joining Enovix in January 2023. With an extensive career spanning nearly 30 years, he boasts a robust track record of effectively leading high-volume and highly profitable semiconductor franchises. Dr. Talluri's expertise has been particularly focused on the portable electronics market, showcasing his adept leadership in this dynamic and crucial industry.

Ajay Marathe, COO: Ajay Marathe has been serving as Enovix's Chief Operating Officer since November 2022. With an impressive 38-year career, he brings a wealth of experience to the company. Ajay has held executive positions at notable organizations such as Western Digital Corporation, Lumileds LLC, Solaria Corporation, and Advanced Micro Devices (AMD). His extensive background in these roles underscores his valuable contributions and leadership in various sectors, enhancing Enovix's strategic capabilities.