The Canadian province of Ontario has announced a CAD$16.7 million (£9.2 million) investment in Electrovaya, a leading manufacturer of patented battery technology for electric vehicles.
The Ontario government investment in Electrovaya, headquartered in Mississauga, Ontario, is expected to create an extra 240 jobs and support 50 existing positions. The company’s patented battery technology lets cars drive further on a single charge than electric vehicles that use other batteries. Electrovaya has already signed several deals with automakers in Europe, Asia and North America and is in a strong position to become a major player in manufacturing batteries for electric vehicles.
Investing in innovation is part of the Ontario government’s plan to secure the next generation of high-paying jobs for Ontario families.
“Ontario has the skilled workforce, the positive investment climate and the commitment to innovation to transform new ideas into jobs for Ontario families. Together we can develop new and sustainable products that we can market to the world,” said Dalton McGuinty, Premier of Ontario.
“The support from the Government of Ontario allows us to accelerate our growth plans and bring our technology to market sooner. We are excited to be adding to our team and increasing our innovation and technology capabilities in Mississauga,” commented Dr. Sankar Das Gupta, CEO of Electrovaya.
Electrovaya’s Lithium Ion SuperPolymer battery is used in the Maya 300 electric. The car, which is part of a new electric car share-and-rental program in Baltimore, can travel up 120 miles on a single charge.
The Ontario government hopes to see one in 20 vehicles driven in the province to be electric by 2020.
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