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Written by SmallCapPower.com
About Electrovaya Inc. (EFLVF)
Investment Thesis
Rising demand for Lithium Ion batteries
The global market for Lithium-Ion batteries is expected to hit US$46.21 billion by 2022, registering a CAGR of 10.8% during the period 2016-2022, according to a report published by Allied Market Research. Citi Research projects the global lithium battery market to be US$40 billion by 2020. Lithium-ion batteries are rechargeable batteries that can be used as a source of power supply primarily in portable devices. The rising demand for electric vehicles and growing environmental concerns would add up to notable growth in this sector. Other key factors that drive the growth of this market is the growing penetration of smartphones, tablets, and other electronic devices. Lithium-Ion batteries provide a cost-effective substitute for fossil fuels such as gasoline and are being favoured by governments worldwide and organizations due to cost reduction benefits they provide.
Superior batteries than global competitors
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