The Shanshan factory would create more than 1,000 new jobs when in full-scale operation. The next step is to prepare an environmental impact assessment.
Other companies assessing the feasibility of establishing a cathode material plant in the GigaVaasa industrial zone include Finnish Minerals Group and Freyr Battery AS.
Malaysia's geopolitical neutrality and strategic positioning are key selling points to multinational semiconductor companies looking for investment destinations.
Chinese Premier Li Qiang met with Elon Musk, CEO of the U.S. electric carmaker Tesla, in Beijing on Sunday, promising that China's market will always be open to foreign-funded firms, Xinhua reports.
China created a total of 3.03 million new urban jobs in the first quarter of the year,