The Li-ion batteries that EFL are manufacturing are not differentiated enought to justify their high price, absolutely agree. With the significant growth in Li-Ion cell output in coming years, with more gigafactories being built with more advanced technology, which leads to more automation and lower  production costs. In this environment EFL will not be able to compete on price. After the recent earnings call, and the announcement that they intend to sell key assets (such as the factory in Mississauga), they seem to be moving towards an EPC business model- selling a solution, but not manufacturing the parts. This calls for a significant SP correction if you ask me, especially considering that they are an EPC with no (or very little) sales and limited relevant expertise. Most concerning is that I don't think management are even aware that this is the direction they are headed, but then again, this wouldn't be the first time they have failed to plan an execute corporate strategy effectively. 

Their balance sheet is in a dire state as well. According to 2017 financials minimum lease payments for Litarion in Germany are scheduled to increase 4x in 2018 - for the sake of the company I hope Li-Tec cancels the lease contract for them!