Enovix Reports Progress on 2025 Smartphone Launch
Rhea-AI Summary
Enovix (ENVX) has achieved its second milestone in a smartphone battery development agreement from October 2024, resulting in a payment for delivered sample battery cells to a leading smartphone OEM. The customized samples meet specific requirements including superior cycle life, fast charge, and energy density compared to current market offerings.
The company also announced the successful completion of an ISO 9001:2015 audit at their Fab2 facility in Malaysia with no findings, receiving formal certification last week. CEO Raj Talluri confirmed the project remains on track for mass production in late 2025.
Positive
- Achieved second milestone payment from smartphone OEM agreement
- Successfully delivered customized battery samples meeting superior specifications
- Obtained ISO 9001:2015 certification with no major or minor findings
- On track for mass production timeline in late 2025
Negative
- None.
News Market Reaction
On the day this news was published, ENVX declined 1.87%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
FREMONT, Calif., March 31, 2025 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced the completion of its second milestone, triggering a payment for sample battery cells shipped under a development agreement executed in October 2024 with a leading smartphone OEM. The samples were customized to specific requirements of the OEM, including cycle life, fast charge and energy density levels which Enovix believes are superior to any product available on the market today.
This development builds on recent achievements, including the completion of an ISO 9001:2015 audit of Fab2 in Malaysia with no major or minor findings. Enovix received formal ISO certification last week.
“I am pleased that our team continues to progress our most advanced smartphone agreement in-line with our aim for mass production late 2025,” said Enovix CEO Raj Talluri. “Passing the ISO audit and receiving the certification was also a significant milestone, reflecting our deep commitment to quality in manufacturing operations.”
About Enovix
Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to vehicles and headsets, needs a better battery. The company has developed an innovative, materials-agnostic approach to building a higher performing battery without compromising safety, and it partners with OEMs worldwide to usher in a new era of user experiences.
Enovix is headquartered in Silicon Valley with facilities in India, Korea and Malaysia. For more information visit www.enovix.com and follow the company on LinkedIn.
Investor Contact:
Enovix Corporation
Robert Lahey
Email: ir@enovix.com
Media Contact:
Bateman Agency for Enovix
Kaelyn Attridge
Email: enovix@bateman.agency
FAQ
What milestone did Enovix (ENVX) achieve in its smartphone battery development agreement?
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What certifications did Enovix (ENVX) receive for its Malaysia Fab2 facility?
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