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An update from Electrovaya ( (TSE:ELVA) ) is now available.
Electrovaya Inc. has received a significant follow-on purchase order valued at approximately US$7.3 million from a leading Fortune 100 e-commerce company for its lithium-ion batteries. This order, which follows a previous $3.5 million order, will be used to power material handling electric vehicles in distribution centers across the United States and Canada. The repeat business underscores Electrovaya’s role in supporting the customer’s mission to adopt clean energy solutions, potentially enhancing its market positioning and stakeholder confidence.
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, which offers enhanced safety and industry-leading battery longevity. Headquartered in Ontario, Canada, Electrovaya is also developing next-generation solid-state battery technology and has plans for a gigafactory in New York.
YTD Price Performance: -3.14%
Average Trading Volume: 83,119
Technical Sentiment Signal: Buy
Current Market Cap: $104.4M
Learn more about ELVA stock on TipRanks’ Stock Analysis page.
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