Enovix Expands South Korea Battery Production Capacity Amid Rising US Defense Demand

06:06 AM EDT, 09/02/2026 (MT Newswires) -- Enovix (ENVX) will double in-house drone battery production capacity at its South Korea facility, with the expansion expected to come online by mid-2027 to meet US and allied government demand, the company said Tuesday. The company said its drone and defense battery portfolio manufactured in South Korea is compliant with the Trade Agreements Act, expanding its ability to serve US government defense programs. Demand for high-performance batteries meeting US government sourcing requirements could outpace supply through 2030, with aerial and naval drone opportunities alone exceeding $100 million in Q2 2026, Enovix added. Enovix shares were down 1.5% in premarket activity Wednesday.