XTC New Energy located in the Xiamen Free Trade Zone. [Photo provided to ftz.xm.gov.cn]
XTC New Energy has unveiled plans to incorporate its wholly-owned Hong Kong subsidiary, XTC (Hong Kong) New Energy, through which it will enter into a joint venture with Malaysian firm Established Metal Industries (EMI) to establish NeoCita Sdn Bhd. This Malaysian venture is slated to invest 450 million yuan ($64.58 million) in a project designed to produce 10,000 metric tons of lithium-ion cathode materials annually.
The project will be located in the Hulu Selangor District of Selangor in Malaysia. EMI intends to build standard industrial factory buildings tailored to the production process specifications and subsequently lease them to the Malaysian joint venture, which will then undertake the necessary interior fit-outs, retrofitting, and equipment installation to enable swift commissioning of production lines.
Against the backdrop of rapid global growth in the new energy sector, downstream clients have demonstrated a pronounced preference for geographically diversified cathode material supply chains. XTC New Energy's investment in a Malaysian manufacturing base positions the company to better support its overseas customers, reinforce enduring strategic alliances, and capture incremental orders from foreign markets.