Electrovaya Inc. provided revenue guidance for the fourth quarter, full year 2022 and 2023. Sales are expected to grow to approximately $11million in the fourth quarter of the 2022 fiscal year as production ramps, barring unforeseen circumstances.

With purchase order volumes increasing, the company's revenues are expected to continue to grow. The company is anticipating revenues for fiscal year 2023 in excess of $42 million. This is double the expected revenue total of about $21 million for fiscal year 2022.