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Electrovaya receives €1M Li-ion cell follow-on order from EV producer

Electrovaya Inc. announced that it has sold €1 million (US$1.14 million) of lithium ion cells for electric vehicle application to an electric vehicle producer in Europe.

Under the terms of the order, the customer will take possession late in Q3 2017, with 50% of the purchase price payable this month and the remaining 50% in September 2017.

We are very pleased to receive this follow-on order, after the customer had earlier purchased smaller quantities of lithium ion cells from us This underlines the strong commercial performance of our cells, which is viewed as one of our key differentiators in the marketplace. This order is also reflective of an increasing level of interest from electro-mobility customers in Europe for our cells, who are recognizing our industry leading safety, energy density and cycle-life.

—Thomas Kagemann, Electrovaya / Litarion Director of Sales in Europe

Electrovaya, through its fully owned subsidiary, Litarion GmbH, produces cells, electrodes and SEPARION ceramic separators and has manufacturing capacity of about 500 MWh/annum.

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