Electrovaya Inc. announced on December 3, 2024, that it received a purchase order valued at $4.1 million for batteries. This order is from a Fortune 500 customer and is intended for re-powering two existing distribution centers.
This purchase order marks the initiation of the customer's fleet conversion strategy, with plans for an additional four sites already in development. The order highlights the growing trend of electrifying material handling fleets in large-scale operations.
The deal signifies continued strong demand for Electrovaya's battery solutions within the logistics and warehousing sector. It also suggests a long-term engagement with a major client, providing a foundation for future revenue streams as more sites are converted.
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