on Electrovaya, Inc. (NASDAQ:ELVA)
Electrovaya Ships Custom Battery Modules to Japanese Market
Electrovaya Inc., a leader in lithium-ion battery technology, has announced the successful shipment of its newly developed battery modules to Japan. These modules, custom-designed for a global construction equipment OEM, incorporate a new 51Ah cell format that has received UN38.8 certification. This advancement highlights Electrovaya's proprietary Infinity technologies which aim to enhance safety and cycle life performance.
The move is anticipated to bolster Electrovaya's foothold in the industrial and heavy-duty vehicle markets. The company's new cell manufacturing site in Jamestown, New York, will cater to both current and new cell formats, driven by expected demand. CEO Dr. Raj DasGupta emphasized the significance of entering the Japanese market, underlining the tailored engineering of these modules for construction and earthmoving equipment.
With sales channels through Sumitomo Corporation Power and Mobility, Electrovaya expects further market penetration. The initiative reflects the increasing global demand for reliable lithium-ion battery solutions in specialized industries.
R. P.
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