UPDATE: Electrovaya Up Another 50% Today As Receives Purchase Order; Gained 20% Tuesday

By Midnight Trader,  January 16, 2013, 09:50:36 AM EDT

Electrovaya Inc. (EFL.TO), which gained 20% Tuesday, has jumped more than 50% early today as it announced that it has received an initial contract to produce prototypes to deliver complete electric vehicle battery systems for DongFeng Motors' two electric vehicle platforms. DongFeng Motors (DFM) plans to commercially launch these two electric vehicles by late 2013. The Electrovaya 18kWh Lithium Ion SuperPolymer battery consists of its proprietary high energy density cells and BMS (Battery Management System) along with sub-assemblies of mechanical, thermal, electrical and electronics. No financial details were provided.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


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