Ontario Government Gives Electrovaya’s Battery a Good Charge
£9.2 million in investment, 50 jobs secured and another 240 created is the result of an agreement between the Canadian province of Ontario and the green technology company Electrovaya.
Electrovaya’s patented battery technology lets electric cars drive further on a single charge than vehicles that use other batteries. The company has already closed several deals with car manufacturers in Europe, Asia and North America and is in a strong position to become a world leader in manufacturing batteries for electric cars.
The government’s £9.2 million (CAD$16.7 million) will be met by Electrovaya with further £52.2 million (CAD$94.8 million) in expansion.
Ontario plans to have one in 20 vehicles driven in the province to be electric by the year 2020. This is far more realistic than the target set by Labor Government in the UK. They want all new cars sold from 2020 onwards to be either electric or hybrid. Realistic? Not really.
We will be closely monitoring Electrovaya’s progress. This all looks very promising as more and more countries and companies are joining the electric car race.
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