The company was founded by Dr. Sankar Das Gupta and Dr. Jim Jacobs in 1996 after beginning their research into battery technologies in 1983.

[8] The Maya-100 debuted at the 20th International Electric Vehicle Symposium at Long Beach, CA, and won the Technology Innovation Award at the Tour de Sol in 2004.

[11] The Tata Indica EV was scheduled to be launched in Norway in 2009 and India in 2010, projected to have a 200 km (120 mi) range on a full charge and a top speed of 105 kilometres per hour (65 mph).

[12] The first all-electric car-sharing program in the U.S. debuted at Baltimore's Inner Harbor with Electrovaya offering its Maya-300 for rent at the Maryland Science Center in 2009.

[20] In 2016, Electrovaya completed a pilot project with Toronto Hydro to develop a containerized 600 kWh battery to balance grid loads.