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Message: Production

Not long ago I posted several jobs that were recently advertised by Electrovaya. If we look closely at these jobs we see a manufacturing manager position, production supervisor, quality assurance, assembly machine set-up person, engineering sevice project manager as well as others. Now this week I see postings that I believe make it all clear what is happening. This week they posted 4 positions for general assembler and light machine operator-electronic equipment manufacturing but the significant information is that the hours are 3:00p.m. to 11:00 p.m. They are adding an afternoon shift which significantly increases production. Prior to the retooling of the plant for the 2.0 battery their capacity was about 40Mhw per year with the ability to double that production to 80Mwh with a second shift (this was directly from IR at electrovaya). A couple of conference calls ago they stated they anticipated their production capacity to increase to 135Mwh after the retooling and added automation. I asked them after the retooling was complete what their new capacity was and they did not want to reveal that information at that time so I am assuming it is somewhere in the 135Mwh range (I believe this is with one shift but cannot be certain). Either way I am confident their manufacturing capacity is much higher than it was prior to the retooling. Therefore I think it is safe to assume that their capacity is maxed out for one shift and they have added a second (afternoon shift) to meet demand. This represents a very significant increase in production and in my opinion is the result of a new major contract or contracts. Their plant in norway has also been retooled to produce the new 2.0 battery. Hopefully we will here something soon perhaps at this next earnings and CC in Nov.

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