Electrovaya Inc (Electrovaya) develops, manufactures, and markets power technology products, primarily focusing on lithium-ion battery systems. The company serves industries such as electric vehicles, material handling, robotics, defense, and heavy-duty vehicle applications. Electrovaya's key statistics include a focus on high-performance, safe, and long-lasting battery technology, with a significant emphasis on North American markets.

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Electrovaya focuses on the improvements in lithium-ion batteries and associated technologies to achieve longer life, higher energy density, and increased safety. The company primarily uses NCM (nickel cobalt manganese) anode-based cells and has launched a cell product based on Lithium Iron Phosphate (LFP) cathodes. Electrovaya is committed to investing in the development of better products and pursuing research activities for future advancements. The company's engineering team in Mississauga develops mechanical, thermal, electrical, and control systems for innovative battery systems. The Electrovaya Labs division continues research into next-generation cells and batteries, focusing on solid-state cells, electrode production, and higher energy density batteries. The company holds over 30 patents mainly on ceramic composite separators and lithium-ion cells. In FY2024, it spent US$3.0 million on R&D, which was 6.8% of its revenue and decreased 10.2% YoY.