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The latest announcement is out from Electrovaya ( (TSE:ELVA) ).
Electrovaya has secured a significant purchase order valued at $8.7 million from a leading Fortune 500 retailer in the United States to supply batteries for material handling electric vehicles at three distribution centers. This order follows a previous $4.1 million order from the same customer and is part of a broader fleet conversion strategy, indicating strong ongoing demand for Electrovaya’s battery solutions and potential for further expansion in 2025 and 2026.
More about Electrovaya
Electrovaya Inc. is a pioneering leader in the global energy transformation, focusing on supplying safe and long-lasting lithium-ion batteries. The company designs, develops, and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy-duty electric vehicles, based on its Infinity Battery Technology Platform. Headquartered in Ontario, Canada, Electrovaya also develops next-generation solid-state battery technology and has plans for a gigafactory in New York.
YTD Price Performance: -9.41%
Average Trading Volume: 75,523
Technical Sentiment Signal: Buy
Current Market Cap: $94.98M
Learn more about ELVA stock on TipRanks’ Stock Analysis page.
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