Enovix Joins Forces with YBS International Berhad to Unveil its Next-Generation Battery Manufacturing Facility in Penang Science Park
August 1, 2023 — Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company and YBS International Berhad (“YBS”) (MESDAQ: YBS:KLS), a Malaysia-based investment holding company with segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, among others, came together today to mark a momentous occasion – the signing ceremony of the Manufacturing Supply Agreement (MSA). The event signifies the commencement of a strategic partnership between the two industry players and celebrates the establishment of a cutting-edge next-generation battery manufacturing facility in Penang Science Park.
YAB Chow Kon Yeow, Caretaker Chief Minister of Penang stated, “Penang’s commendable performance speaks to the robust local ecosystem the state possesses, comprising of multinationals (MNCs), large local corporations (LLCs) and small-medium enterprises (SMEs). It is worth noting that the MNCs have played a significant role in developing the local capabilities, which translates to an increasing participation of the homegrown companies in the global supply chain. I am confident that the collaboration between YBS and Enovix today will follow similar path.”
