Enovix acquires SolarEdge battery cell manufacturing facility in South Korea

Enovix Corp

Acquires ~330,000 sq ft facility directly adjacent to existing Nonsan City plant; deal expected to close April 2025.
Plans to hire certain SolarEdge Korea personnel in manufacturing, quality, R&D and process engineering.
Projected sales increase in 2025-2026 with higher mix toward defense and industrial applications; expects improved gross margins.
Facility has been operating for over 20 years; acquisition aims to expand capacity and expedite scaled production.

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