on Electrovaya, Inc. (NASDAQ:ELVA)
Electrovaya Secures $8.7 Million Battery Order from Fortune 500 Retailer
Electrovaya Inc. has announced a significant purchase order valued at $8.7 million from a leading Fortune 500 retailer. The batteries are intended to power material handling electric vehicles across three distribution centers in the United States. This order follows a previous $4.1 million transaction from December 2024, suggesting a continuing partnership between Electrovaya and the retailer.
Dr. Jeremy Dang, Vice President of Business Development at Electrovaya, expressed satisfaction with the renewed collaboration, highlighting the retailer's role as a prominent customer since 2022. The retailer currently operates nearly 1,500 of Electrovaya's batteries, with plans to expand fleet conversions in 2025 and 2026.
The new order reflects Electrovaya's ongoing commitment to supporting energy efficiency initiatives. The company's advanced lithium-ion battery technology is a key component of its strategy to drive energy transformation in the industry.
R. P.
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