KOTA KINABALU, July 28 — SK Nexilis, South Korea’s second-largest conglomerate, may further expand its investment in Sabah with an electric vehicle and battery industry chain project worth RM3.4 billion, said state Industrial Development and Entrepreneurship Minister Ginger Phoong Jin Zhe.
“SK Group has also committed to an additional investment of RM 300 million (into the copper foil plant. This additional investment will be utilised to optimise copper raw materials with modern technology, thereby increasing copper foil production,” he said. The Luyang assemblyman said that the copper foil manufacturing plant, located in Kota Kinabalu Industrial Park, is set to commence production by the end of this year.He said that while copper foil is an indispensable component in electric vehicle batteries, it represents only one part of the electric vehicle industry ecosystem.
Source: News Formal (newsformal.com)
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