KUALA LUMPUR: SK Nexilis, a South Korean copper foil producer for electric vehicle (EV), is investing RM2.3bil to start its first overseas plant in Kota Kinabalu, Sabah.
Construction work to build the 50,000 tonnes capacity copper foil manufacturing facility is expected to commence in the first half of this year, with commercial operation targeted in 2023.
Senior Minister and Minister of International Trade and Industry (MITI) welcomed the investment, which he said will act as a catalyst to lure more investors into the Malaysian EV battery manufacturing sector.
"As a global leader in thin-tech innovation for copper foil manufacturing, we believe SK Nexilis’ presence will attract more investors to complete Malaysia’s EV battery manufacturing supply chain network, making us a hub for high precision and high quality copper foil for niche applications,” he said in a statement issued by Malaysia Investment Development Authority (MIDA).
SK Nexilis, MIDA said, will introduce state-of-the-art automation in its Malaysian facility - integrating the world's best technology and its know-how from enhancements made to its factories in South Korea.
The proposed facility in Malaysia will also fully implement the RE100 initiative, an initiative towards committing to 100% renewable electricity, for the first time in the industry.
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