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Electrovaya ( (TSE:ELVA) ) has issued an announcement.
Electrovaya has secured an additional US$7.3 million order from a Fortune 100 e-commerce company for its lithium-ion batteries, following a previous $3.5 million order in November 2024. These batteries will power material handling electric vehicles in distribution centers across the U.S. and Canada. This repeat order signifies Electrovaya’s strengthening position in the market for clean energy solutions, with over 2000 Infinity batteries now deployed in more than 40 distribution centers across three countries. The order is expected to enhance Electrovaya’s market presence and support the customer’s sustainability goals.
More about Electrovaya
Electrovaya Inc. is a pioneering leader in the global energy transformation sector, focusing on the prevention of climate change through the supply of 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. Electrovaya is also advancing next-generation solid-state battery technology and has a significant manufacturing presence in Canada and the United States.
YTD Price Performance: -3.14%
Average Trading Volume: 83,119
Technical Sentiment Signal: Buy
Current Market Cap: $104.4M
See more insights into ELVA stock on TipRanks’ Stock Analysis page.