Live News • 15h
Enovix Set to Double Korea Drone Battery Output by 2027 as Defense Demand Rises Enovix plans to double production capacity for its flagship drone battery products at its South Korea facility by mid-2027, using existing company-owned assets to support larger-scale manufacturing.
The company’s silicon-blended graphite anode batteries are already generating revenue across defense, drone, and industrial markets and comply with U.S. government sourcing requirements, which may help Enovix compete for government-linked and security-sensitive contracts.
Enovix shares trade at about $3.38, after falling 57.2% year to date, which means the stock price currently reflects significant recent pressure despite the planned capacity expansion.
This expansion indicates that Enovix is committing capital and operational focus to drone and defense-related demand, which can concentrate growth potential in those segments but also tie the business more closely to procurement cycles and regulatory or geopolitical risk. Announcement • Aug 19
Enovix Corporation Announces CEO Changes Enovix Corporation reported that Dr. Raj Talluri, President, Chief Executive Officer and a director, resigned from his positions as Chief Executive Officer on August 13, 2026, in order to pursue another opportunity. Dr. Talluri assisted with an orderly transition of his responsibilities. Dr. Talluri's resignation was not the result of any disagreement with the Company on any matter relating to operations, policies, or practices. The Board appointed Ryan Benton as Interim Chief Executive Officer of the Company, effective August 14, 2026, while the Board conducts a search for a permanent Chief Executive Officer. Ryan Benton, age 55, remains the Company's Chief Financial Officer, a role he has held since joining Enovix in April 2025. Mr. Benton leads the Company's global finance organization, including finance, accounting and reporting, tax, treasury, internal audit and investor relations. Mr. Benton has more than 35 years of financial, strategic and operational experience, including service as Chief Financial Officer of several publicly listed and private companies in the semiconductor, electronics manufacturing and AI software industries. Prior to Enovix, Mr. Benton most recently served as Chief Financial Officer of Silvaco Group Inc., which he led through its 2024 initial public offering. From July 2020 to August 2023, he served as Chief Financial Officer and a member of the board of Tempo Automation. Prior to Tempo Automation, Mr. Benton served as Chief Financial Officer of Revasum, from September 2018 to July 2020, continuing as a board member until October 2023. From August 2017 to September 2018, he served as Chief Financial Officer of BrainChip Holdings Ltd. From December 2012 to May 2017, Mr. Benton held various positions at Exar Corporation, including Chief Financial Officer, and served as Chief Executive Officer and a board member from 2016 until Exar's sale to MaxLinear Inc. in May 2017. Mr. Benton began his career as an auditor at Arthur Andersen & Company in 1991 and held various positions at technology companies, including ASM International and eFunds Corporation, from 1993 to 2012. 
