Enovix (ENVX) said Thursday that it will acquire battery cell manufacturing assets in South Korea from SolarEdge (SEDG).
No financial terms were disclosed.
Enovix said the acquisition will expand its manufacturing footprint and is expected to improve its gross margins. The company said it also expects sales from batteries manufactured in the South Korean facility to increase this year and in 2026.
The transaction is expected to close within April, Enovix said.
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