SK Group to Invest US $700 Million in Electric Vehicles, Environment in Malaysia
By Rebecca Oi
SK Group, the second-largest conglomerate in Korea and leading energy and chemical company, has committed to invest US$700 million in Malaysia in various sectors, including electronic vehicles (EV), digitalization, and the environment.
SK Nexilis, as part of SK Group’s Electric Vehicle (EV) value chain, has announced a proposed investment of RM2.3 billion to set up its first overseas production base in Malaysia in January 2021.
SK Nexilis is building a copper foil manufacturing facility base located at Kota Kinabalu Industrial Park (KKIP) in Sabah.
The commercial operations will kickstart by 2023, and the new facility will increase SK Nexilis’ copper foil production capacity by three times its current global capacity to about 100,000 tonnes.
Photo courtesy of khengsiong.