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Electrovaya subsidiary signs MOU with e-mobility OEM for Li-ion battery modules

Electrovaya Inc. announced that its wholly owned subsidiary Litarion GmbH signed a Memorandum of Understanding (MOU) with a major OEM in the e-mobility industry for the delivery of battery modules starting in 2017.

Demand is estimated to be about €37 million (US$41 million) in the first year, with growth thereafter.

This MOU further strengthens our reach into multiple industrial sectors and we are pleased in achieving this break-through into the electric mobility market with this major OEM.

—Fritz Mueller, Head of European Sales


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