Electrovaya Partners with Amazon
Electrovaya (NASDAQ: ELVA) announced a landmark commercial agreement with Amazon (NASDAQ: AMZN) on Wednesday, focusing on the deployment of its Infinity Battery Technology for industrial applications. The agreement includes potential future purchases of up to $280 million in robotics and energy storage equipment.
Since the announcement, Electrovaya’s shares have surged 36.4%, reflecting investor enthusiasm. Under the terms, Amazon can secure warrants for nearly 13.9 million shares once it reaches the $280 million purchase threshold. Electrovaya reported revenues of $63.8 million in fiscal 2025, indicating significant growth potential.
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