The Export-Import Bank of the United States (EXIM) Approves a direct loan in the amount of $50.8 million to fund Electrovaya's Jamestown Lithium-Ion Battery Expansion
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Electrovaya Inc. has secured a $50.8 million loan from the Export-Import Bank of the United States to fund its lithium-ion battery manufacturing expansion in Jamestown, NY. This funding is part of EXIM's 'Make More in America' initiative.
November 14, 2024 | 6:00 pm
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Electrovaya Inc. has received a $50.8 million loan from the Export-Import Bank of the United States to expand its lithium-ion battery manufacturing facility in Jamestown, NY. This funding will support equipment, engineering, and setup costs.
The $50.8 million loan from EXIM will enable Electrovaya to expand its manufacturing capabilities, potentially increasing production capacity and revenue. This is a positive development for the company, likely boosting investor confidence and stock price in the short term.
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