Electrovaya ( (TSE:ELVA) ) just unveiled an announcement.
Electrovaya has secured a $50.8 million direct loan from the Export-Import Bank of the United States to expand its battery manufacturing facility in Jamestown, New York. This funding, combined with additional financial resources, will support the company’s aggressive expansion plans in the U.S., creating over 250 jobs and enhancing its export capabilities to countries like Japan, Canada, and Australia. The expansion will also contribute to the development of U.S. supply chains for lithium-ion battery production.
More about Electrovaya
Electrovaya Inc. is a leading company in the lithium-ion battery technology and manufacturing industry, focusing on producing high-quality batteries for heavy-duty and mission-critical electrified applications. The company is expanding its operations in the United States to meet the increasing demand for its proprietary Infinity lithium-ion ceramic cells, known for their longevity and safety.
YTD Price Performance: -12.16%
Average Trading Volume: 93,575
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $90.38M
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