08:40 AM EDT, 06/26/2024 (MT Newswires) -- Enovix ( ENVX ) said Wednesday it has signed a memorandum of understanding with Elentec, an electronic battery manufacturer in Asia, which gives it access to Elentec's battery pack design and high-volume manufacturing capabilities.

Under the MOU, the companies will "collaborate in the incorporation and custom development of Enovix ( ENVX ) battery cells into multiple battery packs for consumer, industrial, and military applications to support both Enovix ( ENVX ) and Elentec's key customers," the company said.

Financial terms were not disclosed.

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