This matches what they said,that OEM sales (mostly Roberts) would become majority of their sales. This is a new stream of revenue for them. The Roberts deal is only 1 year old. Roberts is #1 forklift company and owned by Toyota.
Seems Roberts is getting good success selling Electrovaya.
That article I linked on PLUG said this: While hydrogen fuel cells have many advantages, including faster fueling, higher energy density, and longer range, they are falling behind batteries in terms of cost-effectiveness. Batteries are far more efficient than hydrogen fuel cells in that a higher percentage of electricity generated is transferred into propulsion. Management consultancy company Horváth & Partners found that battery EVs have an efficiency of 70%-80% compared to the 25%-35% efficiency of fuel cell cars.
The growing success of lithium-ion batteries, in particular, is threatening the long-term legitimacy of hydrogen fuel cells. Given how promising the electric vehicle market is, the recent success of batteries is bad news for Plug Power. Plug Power is investing heavily across the hydrogen fuel cell supply chain, from hydrogen sourcing to fuel cell manufacturing. If hydrogen fuel cells continue to lose momentum to batteries, Plug Power will have little to fall back on.
The electric vehicle market is expected to continue growing rapidly for the foreseeable future, with BloombergNEF predicting a global EV fleet of 116 million by 2030.
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