Come June 12th you may be surprised to learn that Electrovaya now needs two new battery factories.  I think the solid state cell is ready for prototype testing and pilot production.  Since Electrovaya also developed the production process while they were developing the solid state cell, they may be able to go right to mass production.  But most likely pilot production will be next.

As for Jamestown.  Electrovaya does not have a customer until 2026.  They will not build out the cell assembly until it is needed.  Why sign loan papers months ahead of construction and then have to start making interest payments?  They are building module and pack assembly (I assume) from what profit they are now making along with the increased loans they are taking out with their current lender.  The way I read the loan agreement as long as the lender agrees to what Electrovaya want to spend it on, Electrovaya  can get the money.  A Hi Voltage assembly line costs $2Mil.  At least that is what the one in Mississagua cost.