Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, today announced Stellantis N.V. as its automotive OEM partner following the lifting of a previously signed Non-Disclosure Agreement (“NDA”). The announcement is the culmination of the first phase of a confidential, collaborative innovation program to demonstrate the capabilities of Exro’s Coil Driver(TM) technology for potential deployment within Stellantis’ passenger vehicles. The initial phase of the partnership, which lasted approximately 14 months, entailed integrating the Exro Coil Driver(R) technology into Stellantis’ next-generation electric powertrains. The announcement also noted that Exro was recognized as a finalist for Best Supplier in the Innovation Category in the prestigious Stellantis Supplier Awards 2024.
“Stellantis pushed us to evolve the Exro Coil Driver(R)technology and prove the need to disrupt the passenger EV propulsion systems as they exist today,” said Exro Chief Technology Officer Eric Hustedt. “They challenged us to demonstrate how our coil-switching inverter technology holds the potential to enhance system efficiency and power, while also holding the potential to significantly reduce cost and accelerate the adoption of EVs globally.”
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About Exro Technologies Inc.
Exro Technologies, now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. The company’s innovative suite of solutions, including Exro Coil Driver(R), Exro Cell Driver(R), and SEA-Drive(R), expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information, visit the company’s website at www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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