Toronto, Ontario – The Ontario government is investing up to $16.7 million in Electrovaya, a battery and clean transportation company in Mississauga, Ontario. The investment is part of an expansion that will include a $94.8 million investment by Electrovaya.
The government said that the expansion will help create 240 jobs and support 50 existing positions. The company’s patented battery technology lets cars drive further on a single charge than electric vehicles that use other batteries.
Electrovaya has already signed several deals with automakers in Europe, Asia and North America. Its Lithium Ion SuperPolymer battery is currently used in the Maya 300, a low-speed electric vehicle that is part of a new share-and-rental electric car program in Baltimore, Maryland.
Ontario wants one in 20 vehicles driven in the province to be electric by 2020.