- Silicon battery manufacturer Enovix Corp ENVX said its board of directors approved its design next generation production line, Gen2 Autoline.
- The Gen2 Autoline is expected to increase battery manufacturing throughput by more than 10 times compared to the current throughput of the Gen1 line.
- Gen2 Autoline includes a higher level of automation, parallelism and in-line metrology.
- “Enovix has developed a breakthrough battery that offers significant performance advantages over current lithium-ion batteries in today’s commercial devices,” said CEO Raj Talluri.
- The company also announced its first high-volume production line (Fab-2). will be based in Penang, Malaysia.
- Fab-2 is designed to support the growth and scaling of the company. Enovix expects to start production in 2024.
- price action: ENVX shares trade up 7.25% to $10.21 in premarket trading on Friday.
- Photo via company
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