
Petaling Jaya: Malaysia -based Econari Battery New Energy SDN BHD, the largest lithium ion battery recycler in ASEAN, is investing in a third facility, which focuses on re -preparing and re -introducing the battery.
CEO Datuk Jaiden Goh said that it is increasing expansion plans this year amid the adoption of the growing electric vehicle (EV) in Malaysia.
He said, “We are watching an increase in the number of EVS on the Malaysian roads, and the government is actively insisting on adoption. As a result, we will soon have a large amount of battery that is waiting for recycling,” he said. Sunbiz In a special interview.
In addition, Goh said, the demand for battery recycling is expected to increase in five to seven years as the EVS accumulates lithium-ion battery and production scraps.
“Currently, three battery manufacturers in Malaysia are working near full capacity, and we soon expect more lithium-ion batteries to enter the recycling pipeline. The future looks bright, it’s just time,” he said.
As part of its expansion, Goh said, “Circular economy valley” is developing a “circular economy valley” to recover precious metals from the battery used Econielie. “
“Malaysia lacks local mineral resources, so we should source them through secondary applications. In the future, having a large supply of these materials will support our goal of establishing domestic battery production.”
Despite the short-term challenges, Gauh remains optimistic about long-term development in battery recycling volumes, including recession in EV demand and battery metal prices.
“Currently, the battery price and metal prices are unstable due to the decline in global EV demand, which indirectly affects the prices of battery material. The entire battery ecosystem has faced challenges over the last two years, and this year will not be separated. But as an entrepreneur, you have to be optimistic and scare the business.”
Goh said that the company has already broken in terms of profitability, so scaling is a priority. “We are currently in the process of completing our series A Fundrase and will continue to receive money from both local and international investors.”
In addition, he said that Ekonili plans to list global investors and talent on Nasdaq within three years.
“We will raise more money in the capital market. Whether it is for abroad or for Malaysia. To scale our next project because we have some expansion plan. We have two upcoming stages that we are already securing land from Parak. 43 acres of industrial land.”
Goh said that Econili is targeting at least 20% profit growth this year, but with a successful funding, the company can also get a 30% to 40% increase. This size business requires important working capital to score. ,
The Econili LG, as well as global customers like LG, Tesla and Honda, serves battery recycles worldwide that lacks refinery capabilities.
“Establishing a refinery is highly complex, requires significant expertise and investment. We are the source of recycling materials to further process them from global battery collection companies and battery recycles,” said Goh.
However, he said that the Malaysia battery is behind China, India and South Korea in recycling policies.
“Malaysia is still in its early stages, with vague policies, running R&D, and testing-and-testing efforts.”
He said that the Econili is ready to work with the government to advocate the clear policies supporting the development of the industry as well as the government.
“This is a new industry that has no clear guidelines or regulatory framework. We are suited to the developed landscape keeping in position as a prominent player in the field. Over time, it will allow us to influence the standards of the industry.”
Goh believes that Malaysia still has time to become a major industry player, which takes advantage of its cost profit on countries such as South Korea, Singapore and Japan.
“Our cost is much lower than in developed countries. Capital expenditure (CAPEX) is also low, making us a cost -effective option.”
Comparing Malaysia to India, Goh said that the Government of India has introduced an incentive and a policy structure that has intensified the development of the industry. “Today, there are more than 50 companies in battery recycling and related industries in India. They quickly recognized its importance and worked fast.”
Goh said that China’s battery recycling sector has also increased rapidly.
“In 2014, China had 500 battery recycling companies. Today, there are 120,000 with more than 200 listed companies. It reflects the rapid growth capacity of the industry.”
He said, “There are already four listed battery recycling companies in Korea. If we work closely with the government, we can track our listing faster and expand very fast,” he said.
Goh insisted that the battery recycling is an important industry, and the sacrificed battery should never be terminated in the landfill.
“People now understand the value of the battery used. The battery ecosystem can generate national benefits, create jobs, attract investment, and create Malaysia’s position as a global supplier of recycled materials.”
He said that recycled battery materials can be sold worldwide, not only China, but also to America and Europe.
“This is an important raw material required for future battery production. Without recycling, we will be highly dependent on mining,” Goh said.