Amazon and Electrovaya sign battery supply agreement with equity warrants

Amazon has entered an agreement with Electrovaya whereby Amazon receives warrants to buy over 20% of Electrovaya's shares, vesting as Amazon purchases up to US$280 million in batteries over the next decade. The batteries are used in forklifts.

“Amazon received about 13.8 million warrants to buy Electrovaya shares, priced at the five-day volume-weighted average prior to the deal.”financialpost.com

• 1 source
• financialpost.comBattery maker Electrovaya is tying its future to AmazonGabe FriedmanJul 15, 2026

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