Electrovaya Secures Follow-On Orders for High Voltage Battery Systems from Aerospace and Defense Giant

Published: 29 Nov 2024

Author: Precedence Research

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Most recently, Electrovaya Inc., a leading company when it comes to technology and manufacturing of lithium-ion batteries, has procured follow-on orders for its Infinity-HV high-voltage battery systems from one of the world's largest aerospace and defense companies. The batteries cleared extensive performance tests in a rigorous off-road autonomous defense application and proved reliability and robustness of performance in mission-critical applications. The successful outcome of these tests created a strong endorsement of the Infinity-HV technology and led to more orders from the defense contractor.

Designed for high-voltage applications for industry segments, Infinity-HV systems find use mostly in heavy-duty vehicles, defense, and energy storage. They are engineered for mission-critical applications requiring ultra-high performance and safety standards. These batteries are designed according to specifications that ensure they provide high reliability, efficiency, and durability, to ensure operation in environments where performance cannot be compromised.

To cater to the increasing high-voltage battery production demand, Electrovaya has a newly expanded capacity extension at its plant in Jamestown, New York. The company has received significant funds to support the extension, including a recent approval by the Export-Import Bank of the United States (EXIM) to a direct loan of $50.8 million for Electrovaya’s gigafactory manufacturing. The scale-up in production capacity will also enhance the company’s domestic manufacturing capability to meet the growing demand for high-performance battery systems.

With this new investment and with a ramped-up capacity, Electrovaya is gearing up to take a central position in an emerging market increasingly looking toward high-voltage batteries for aerospace, defense, and other heavy-duty applications. It is a testament to Electrovaya's innovation and quality that its battery systems continue to succeed in high-stakes applications, and that follow-on orders only serve as further proof of the reliability and trust placed in Electrovaya's products.

High Voltage Battery Market Size and Forecast 2024 to 2034

The global high-voltage battery market size accounted for USD 30.3 billion in 2024 and is expected to hit around USD 387 billion by 2033. It is poised to grow at a compound annual growth rate (CAGR) of 31.99% from 2024 to 2033.

High Voltage Battery Market Companies

• Tesla (US)
• BYD (China)
• LG Chem (South Korea)
• Samsung SDI (South Korea)
• CATL(China)

High Voltage Battery Market Recent Developments

• In October 2024, JSW MG Motor India launched India's first high-voltage second-life battery, powered by an indigenous Battery Management System, as part of 'Project Revive'.
• In October 2024, Vision Mechatronics, in partnership with JSW MG Motors India, launched India's first high-voltage second-life battery, repurposing retired MG ZS EV batteries for industrial use.
• In August 2024, Varta launched Varta.wall DC high-voltage battery, expecting high demand after struggling with market introduction at Intersolar 2022.
• In April 2024, BMW formed a long-term partnership with Rimac to develop high-voltage battery technology for electric vehicles, including e-axles, electronics, and software solutions.

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