For a battery dominant electric vehicle to be technically and commercially viable, Electrovaya's believes the following characteristics are required or advantageous:

1. Capability to evolve (Platform Technology) : Historically battery technologies have been characterized by ongoing incremental improvements. Paradigm shifts (e.g. nickel metal batteries to lithium ion batteries) happen infrequently. A platform technology is necessary in order to maintain leadership and continually evolve.

2. Sufficient Range & Low weight (Energy Density): The driving range of an electric vehicle is determined by the capacity of the battery. Higher energy density implies a longer driving range for a given system size and weight. This has historically been the principal limiting factor of the electric vehicle industry.

3. Scale-up (Large-format Cells): Scale-up is perhaps the most fundamental of all engineering concepts and is necessary to ensure efficiency and reliability. This is a requirement for transportation, which by definition requires large battery systems and thus large-format solutions.

4. Power electronics (battery management system): Intelligent power electronics are required for electric vehicles and Electrovaya offers the option of its proprietary iBMS™, which is a fully integrated solution developed for system optimization, protection and communication.

5. Systems approach & expertise: At every stage of a battery system design (including cell, module, system and interface), Electrovaya considers the system integration needs for the optimisation and design of the thermal, mechanical, electrical and electronic properties of the system. This integrated system approach and expertise leads to a system designed for optimal integration and reliability.

6. Manufacturing expertise: Low capital cost manufacturing and the ability to quickly scale-up while meeting North American or European environmental standards will be critical in order to meet growth expectations.