- Enovix Corp ENVX revealed manufacturing the first cell off its automated factory in Fremont, California.
- "Manufacturing the first cell off of our automated line is proof that our machine set is ready for production," said Harrold Rust, Co-founder, President, and CEO of Enovix.
- The company said it is on track to meet the goal of delivering a battery with up to 110% greater energy density and on target for commercial production in Q1 2022 and first product revenue in Q2 2022.
- Enovix also announced that it has designed, fabricated, and released pre-production quantities of a new cell design for Augmented Reality (AR) glasses for a top-tier consumer electronics company.
- Price Action: ENVX shares are trading higher by 7.35% at $17.09 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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