Canada’s Electrovaya to Build Lithium-Ion Gigafactory in New York State

Global lithium-ion battery technology and manufacturing firm Electrovaya has announced that its first US-based gigafactory will come up in New York State for the production of cells and batteries. Electrovaya said that it will set up operations at a 137,000 square foot plant on a 52-acre campus near Jamestown, New York.

Electrovaya informed that the reason for setting up the gigafactory is the rising demand for its lithium-ion batteries. The firm held that its battery provides superior safety and longevity in demanding applications for e-forklifts, e-trucks, e-robots, e-buses and more.

Mentioning that the company’s first US gigafactory in New York State will manufacture lithium-ion battery products with 100 per cent renewable energy, Dr. Raj Das Gupta, CEO of Electrovaya, said, “The gigafactory will achieve three key objectives for the company: increase our manufacturing capacity to meet growing demand, improve our supply chain security and overall gross margins through added vertical integration, and develop additional market opportunities given the significant US-based manufacturing capacity,” continued Dr. Das Gupta.

The official statement by Electrovaya held that the Empire State Development (ESD) is assisting the project by providing up to $4 million of tax credits through the performance-based Excelsior Jobs Program, and $2.5 million of funding through the Regional Council Capital Fund Program. The gigafactory will be located in a former electronics manufacturing facility and is expected to create approximately 250 new jobs, with expected production of more than one GWh of battery and energy storage systems over the next five years.

Electrovaya said that it will also be eligible for other New York State funds, as well as US federal funding from various agencies and programs. In July, the New York Power Authority Board of Trustees approved an allocation of more than 1.5 megawatts of low-cost hydropower under the power authority’s Industrial Economic Development program to meet the increased electric load resulting from the Gigafactory. The final capital cost of the facility is estimated at approximately $75 million, and it is expected to open in phases starting late 2023.