Enovix Bags Gen2 Autoline Approval; Picks Malaysia For First High-Volume Production Facility

  • Silicon battery maker Enovix Corp ENVX said its Board of Directors approved the design of its next-generation manufacturing line, Gen2 Autoline.
  • The Gen2 Autoline is anticipated to increase battery manufacturing throughput by over 10x compared to the current throughput of the Gen1 line. 
  • Gen2 Autoline involves increased levels of automation, parallelism, and in-line metrology.
  • “Enovix has developed a breakthrough battery that has significant performance advantages over the current Lithium-ion batteries in commercial devices today,” said CEO Raj Talluri.
  • The company also announced its first high-volume manufacturing facility (Fab-2) will be located in Penang, Malaysia.
  • Fab-2 is expected to support the company’s growth and scale up. Enovix expects to begin production in 2024.
  • Price Action: ENVX shares are trading higher by 7.25% at $10.21 in premarket trading on Friday.
  • Photo Via Company
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