China''s INV New Material Launches RM3.2 Billion
China''s INV New Material Technology (M) Sdn Bhd has officially launched its RM3.2 billion manufacturing facility in Penang,
Ian McIntyre pic, December 1, 2023. PENANG received a boost in its standing as a preferred manufacturing hub when China's electric vehicle (EV) lithium battery maker, INV New Material Technology (M) Sdn Bhd, decided to set up shop at the Penang Technology Park in Bertam, Kepala Batas.
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Speaking at the inauguration, Penang Chief Minister Chow Kon Yeow welcomed the project as a major boost to the state's high-tech and green industry ecosystem. The plant is expected to create 1,200 skilled jobs and foster partnerships with local universities to promote research and innovation in battery technologies.
At full capacity, the plant aims to deliver two billion sqm of battery separators annually, securing an estimated 15% share of the global market. Speaking at the inauguration, Penang Chief Minister Chow Kon Yeow welcomed the project as a major boost to the state's high-tech and green industry ecosystem.
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