on Electrovaya, Inc. (NASDAQ:ELVA)
Electrovaya Secures $4.1 Million Battery Order from Fortune 500 Retailer
Electrovaya Inc., a leader in lithium-ion battery technology, has announced a significant purchase order valued at $4.1 million. This order from a major Fortune 500 retailer in the U.S. marks the beginning of the retailer's fleet conversion strategy, focusing on re-powering material handling electric vehicles at two warehouse sites.
Electrovaya has been collaborating with this customer since 2022, having supplied over 1000 batteries so far. The retailer plans further conversions in 2025, demonstrating Electrovaya's role in supporting energy efficiency initiatives.
This order highlights Electrovaya's commitment to providing advanced battery solutions and signifies potential growth in orders and customer demand for the coming years.
R. P.
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