Enovix Sends Out First Samples of New Batteries to Customers

MT Newswires Live12-20 23:07

Enovix (ENVX) said Friday it has sent out EX-2M sample batteries, made at its Malaysian Fab 2 factory, to customers for testing, with an expected commercial launch in 2026.

These EX-2M samples have about 10% higher energy density than the earlier EX-1M batteries, which are set for mass production in 2025, the company said.

Enovix received its first purchase order for mobile phone battery samples from a customer under a non-disclosure agreement, following a joint development milestone, it added.

The custom battery order will likely go into large-scale production by late 2025, according to the company.

The company is set to complete the Site Acceptance Testing for its High-Volume Manufacturing Line at the Malaysian Fab 2 plant by the end of this month, Enovix CEO Raj Talluri said.

Enovix shares were up nearly 15% in recent trading.

Price: 9.21, Change: +1.18, Percent Change: +14.69

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