LEADING global manufacturer of lithium-ion batteries Zhuhai CosMX Battery Co Ltd is set to make a significant entry into Malaysia with a RM1 bil investment to establish its first manufacturing plant in the country. The facility will be located in Kulim East Industrial Park, Kedah, under the management of Unimx Technology Malaysia Sdn Bhd.
The project, slated to break ground in the last quarter of 2024, is expected to generate over 1,000 jobs, contributing to local employment and economic growth. The development will be carried out in phases, marking a crucial step in the company’s global expansion strategy.
In a statement, the Malaysian Investment Development Authority (MIDA) noted that this substantial investment underscores Zhuhai CosMX’s commitment to enhancing its manufacturing capabilities to meet the growing global demand for lithium-ion batteries. The investment also highlighted Malaysia’s status as a prime destination for technology-based investments.
Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz welcomed the investment, stating that it reinforces Malaysia’s reputation as a preferred location for tech-driven companies.
He added that the initiative aligns with the goals of the New Industrial Master Plan (NIMP) 2030, which aims to elevate the country’s industrial complexity and strengthen its position as a manufacturing and services hub in ASEAN and Asia.
MIDA CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid expressed confidence in the project’s positive impact on the local economy and workforce.
“Revolutionising battery technology is no easy task, but Mida is proud to support and facilitate Zhuhai CosMX on this ambitious journey. Their cutting-edge expertise is going to have a big ripple effect on our local ecosystem.
“As a partner, we are committed to providing Zhuhai ÇosMX with the support and facilitation they need for the project to succeed, and we’re confident that their presence will have a positive impact on both the economy and rakyat.”
Kedah’s state executive council member for Industry and Investment, Higher Education, and Science, Technology & Innovation Dr Haim Hilman Abdullah highlighted the potential of Kulim East Industrial Park to become a new hub for energy storage production in northern Malaysia.
He expressed optimism that this investment would drive economic growth, technology transfer, and skill development in the region, ultimately benefiting the local workforce and society.
“This investment is a testament to the state’s economic potential and confidence in our investment climate. We hope this investment will result in economic growth, technology transfer and skill development, ultimately benefiting our workforce and society,” he added. – Aug 30, 2024
