Zhuhai CosMX Announces RM1 Billion Investment For First Manufacturing Plant In Kedah, Malaysia

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.”