RE:RE:Wrong
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.
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Our batteries are being sold for both the Raymond and the Toyota branded electric trucks. As part of the launch program, Raymond has invested substantial sales and marketing effort behind these batteries through their Battery Essentials product launch. In addition to sales in the USA, Raymond through their overseas subsidiaries have started marketing the Electrovaya batteries overseas initially to the South America and Australasia market. We delivered our first shipment to an e-commerce customer in Argentina, as well as to a multinational food conglomerate also in Argentina.
We are now quoting customers through Raymond into Australia, Colombia, Brazil, Philippines, Canada, and elsewhere. No doubt however, the largest market is the USA and we are now possibly powering lift trucks in some 50 to 55 locations in the USA. This is a new Raymond corporate team marketing our products and we believe this team has the resources needed to make the Electrovaya battery a standard in the electric lift truck industry.