Leading clean technology firm, Exro, recently announced enters a strategic partnership MoU with a global automotive industry supplier. The partnership aims to leverage the performance of Exro's L040 800V Coil Driver™ inverter with the partner's motor, if successful, the partnership will transition to a definitive agreement. The partnership aligns with Exro's targeted go-to-market strategy, which involves partnering with leading global tier-1 automotive suppliers to expand its market presence.
Exro will develop powertrain solutions for commercial electric vehicles and off-highway applications in North America and Europe. In phase 1, prototypes will be developed using the partner's electric motors with Exro's L040 800V Coil Driver™ in Q3 2023. Successful completion of automotive dynamometer testing will lead to a definitive agreement outlining volume targets, sales and marketing plans, and compensation models.
Exro’s USP
The Coil Driver™ offers multiple benefits, including a 50% increase in powertrain performance resulting in better gradeability and route expansion for electric commercial trucks and buses. It also improves efficiency without compromising range, lowers vehicle powertrain costs up to 20%, and allows for AC fast-charging, which eliminates the need for an on-board charger, potentially reducing infrastructure costs by up to 90%.
Sue Ozdemir, Exro CEO, said, "We are absolutely thrilled to welcome our next strategic partner." She further added, "While we would love to disclose the identity of our new partner at this time, we are conscious of the industry conditions today with companies being sensitive of existing supply chains and protective of new relationships for competitive reasons. What we can disclose, however, is that our new partner has a strong reputation as a leading technology provider to the automotive industry as well as major off-highway applications, marking a tremendous validation of our technology and its potential to scale across multiple platforms. With both companies' core values directly aligned in a commitment to sustainability, we look forward to revealing our new partner in the near future and building a successful relationship that translates into significant value for our customers and our shareholders."
(Source – CISION PR Newswire)
About Exro Technologies Inc.
Exro develops innovative power control electronics that enhance the performance of electric motors and batteries. Its technologies aim to bridge the performance-cost gap in e-mobility (Coil DriverTM) and stationary energy storage (Cell DriverTM), enabling the adoption of a circular electrified economy with greater efficiency.