Electrovaya (TSE:ELVA) has released an update.
Electrovaya Inc. has secured a $50.8 million loan from the Export-Import Bank of the United States to expand its lithium-ion battery manufacturing facility in Jamestown, New York. This expansion aims to meet the rising demand for Electrovaya’s innovative battery technology and support exponential growth. The facility, powered by renewable energy, will enhance production capacity and improve margins through vertical integration.
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