Electrovaya stock jumps on automaker battery deal

VANCOUVER, Feb 14 (Reuters) - Shares in Electrovaya Inc soared 23 percent on Monday after the battery maker said it had started delivering battery packs to what it said was a second major North American automaker.

Electrovaya said it was supplying the automaker, which it did not name, with its lithium ion superpolymer-based battery packs for use in plug-in hybrid vehicles. It gave no details.

Electrovaya's stock rose as high as C$2.90 on the Toronto Stock Exchange on Monday morning. By early afternoon it was just off its peak at C$2.86, a gain of 51 Canadian cents, or 22 percent.

Electrovaya, based in Missisuaga, Ontario, was selected by Chrysler last March as a supply partner in a program to develop a plug-in version of its RAM truck.

($1=$0.99 Canadian)

(Reporting by Nicole Mordant; editing by Peter Galloway) Keywords: ELECTROVAYA/ ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.