Enovix (NASDAQ:ENVX) is partnering with Group14 Technologies’ SCC55 silicon-carbon composite to develop cutting-edge silicon batteries. This partnership aims to boost lithium-ion silicon battery capacity by 50% over current systems.

Moreover, Enovix is scheduled to establish a new Malaysian plant, which will greatly increase production capacity to satisfy the rising demand for its innovative battery technology. Enovix has also extended its operating runway till 2026 and implemented a consolidation plan to save fixed expenses by approximately $35 million yearly.

Enovix has inked a deal to provide high-performance batteries for mixed-reality headsets, indicating its foray into new consumer electronics markets.

To further tap the consumer electronics sector, Enovix inked an agreement with Elentec, a top producer of consumer electronics batteries that serves customers such as Samsung Electronics (OTCMKTS:SSNLF).

Thanks to its collaboration with Elentec, Canaccord Genuity notes Enovix’s enhanced regional reach and client base. The cooperation, especially in the consumer electronics sector, will likely consolidate Enovix’s position in Asia.

Canaccord Genuity kept its Buy rating on Enovix and set a $17 price target. Still, the consensus price target for the stock is $30.88, translating into a potential upside of around 68%, which is not bad when considering “Strong Buy” battery stocks.

3 Battery Stocks That Could Be Multibaggers in the Making: July Edition
Key legislative tailwinds and innovations in solid-state technology fuel investor enthusiasm

1d ago · By Faizan Farooque, InvestorPlace Contributor
Battery stocks are a hot topic as the global market, valued at $127.3 billion in 2023, is expected to reach $276.3 billion by 2032.
Enovix (ENVX): The upcoming Malaysian plant will significantly ramp up production capacity, meeting the rising demand for Enovix’s cutting-edge battery technology.
Li Auto (LI): Li Auto’s partnership with CATL introduces a long-range EV battery with a 15-year guarantee and a lifespan of up to 1 million miles.
Solid Power (SLDP): The company is innovating sulfide-based solid electrolytes for safer, more energy-dense and cost-effective batteries, targeting a 2026 release.

https://investorplace.com/2024/07/3-battery-stocks-that-could-be-multibaggers-in-the-making-july-edition/?mod=mw_quote_news

Enovix Fab2 Sneak Peek
https://www.youtube.com/watch?v=a6EZjcYnR18

https://www.youtube.com/watch?v=K1H_iKn9Vu4

the CM is useless and will LD soon

Company forcing leave and plan to shutdown every Friday ..... Very Bad Impact now