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Electrovaya Announces Commencement of Jamestown Battery Manufacturing Facility Capital Purchases and Hiring

1. Electrovaya is investing in battery assembly equipment for a new facility. 2. Hiring has commenced to begin battery assembly by Q2 2025.

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Why Bullish?

Investments in manufacturing can enhance growth prospects. Past expansions often positively affected stock prices.

How important is it?

The announcement signifies a strategic move into manufacturing, critical for ELVA's future.

Why Long Term?

The planned facility and hires may establish lasting operational capacity. Similar past projects contributed to long-term valuations.

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NASDAQ:ELVATSX:ELVA
The Company has begun placing initial purchase orders for battery system assembly equipment along with commencing hiring with the goal of starting battery assembly by CY Q2 2025 JAMESTOWN, NY / ACCESSWIRE / January 14, 2025 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has begun making capital investments for its planned Jamestown battery manufacturing facility along with hiring initial personnel. These initial procurements include battery system manufacturing and testing equipment along with awarding engineering work to prepare for further investments pertaining to planned cell manufacturing investments.

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