Electrovaya (ELVA) has commenced battery system assembly operations at its Jamestown, New York facility. These operations will continue to expand with growth in demand for Electrovaya’s battery systems and as the Company gets closer to starting its lithium ion cell and module production which is estimated to begin in mid 2026. In preparation for the cell and module manufacturing plans, Electrovaya has thus far placed over $40 million worth of capital equipment orders. The capital for this investment will be drawn from a recently closed $51 million direct loan from the Export Import Bank of the United States under their Make More In America program. Delivery of the capital equipment will begin late in calendar year 2025 with the full lithium ion cell and module commercial production set to commence in mid 2026.
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