Electrovaya signs a multiyear master service agreement with a Fortune 1000 company for Li-ion battery modules
Electrovaya Inc. signed a Multiyear Service Agreement (MSA) with a US-based Fortune 1000 OEM to supply Lithium Ion Battery Modules, Battery Management Systems and related services. The Agreement is expected to generate revenues of up to $80 million over the next three years.
The revenues from this agreement starts in Q2 CY2016, growing through rest of CY2016 and accelerates in 2017.
Electrovaya has already received the first purchase order from this MSA; the Fortune 1000 Company is Electrovaya’s first major customer for the new LITACORE1000 module, which uses the LITACELL40. (Earlier post.)