Electrovaya Inc., a Toronto-based lithium ion battery maker, has sold $1.45 million worth of battery cells to an electric vehicle maker.
The cells were delivered to the customer in the fiscal third quarter of 2017. Electrovaya received 50% of the payment in July with the balance to be paid in September 2017.
This is a follow-on order from the customer, noted Thomas Kagemann, director of sales for Electrovaya and its subsidiary Litarion in Europe.
"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,” he added.