Enovix Corporation has submitted a proposal to the Foreign-Trade Zones (FTZ) Board to engage in production activities at its Fremont, California facility within Subzone 18K. This facility will produce lithium ion metal batteries using foreign-sourced materials and components. The FTZ designation could allow Enovix to avoid or defer customs duties on certain foreign materials used in exports and possibly reduce duties on production equipment. Public comments on this proposal are invited until April 5, 2021, and can be submitted via email to the FTZ Board.
Simple Explanation
Enovix wants to make special batteries in a part of California where they might pay less for some materials from other countries, and people can tell the government what they think about this plan until a certain date.