RE:It's Just Inflation.Stockholder2008 wrote:
Don't wory about the price being up 11cents today it is just infaltion. Even Electrovaya has to keep up with inflation.
OR is it? On the sales and revenue channel, we are getting traction in spite of the prolonged COVID disruptions. For our revenue, we have two channels to the market. The first channel is Raymond Corporation an OEM, Original Equipment Manufacturer, who has an extensive sales network. The second channel is our direct sales to the customers. On the first channel, Raymond Corp., who is a wholly-owned subsidiary of the Toyota Group, is the premium electric brand for electric lift trucks for Toyota. Raymond is also the largest manufacturer of branded electric lift trucks in North America and along with the branded trucks is the largest manufacturer globally in this sector.
Last quarter was the first quarter that the Raymond strategic supply agreement came into effect. We continue to receive repeat orders for Fortune 500 companies as they recognize the efficiency gains from our lithium-ion batteries in their operations. As an example of the new sales push from our OEM partner is one recent customer they secured recently is a Fortune 100 big box retailer who is now operating our batteries in five of their stores in the New York City area. This end user has several thousand stores and could become a significant opportunity for the company several hundreds of million potential with a single customer.
Expect increased revenue this quarter.