New Brazilian Partner - ELETRA?
ELETRA is a Brazilian electic bus manufacturer. ELETRA also has been offering a retrofit service for ICE cargo trucks since 2019.
AMBEV is the largest beverage manufacturer in Brazil. It is a subsidiary of Anheuser-Busch InBev SA/NV, the world's largest brewery. AMBEV recently contracted with ELETRA to convert some of its diesel delivery trucks to electric.
The EXRO NR describes a commercial relationship with a Brazilian emerging growth company to jointly develop retrofit kits for commercial vehicles in South America in collaboration with a global beverage company. Looks like a match.
I think this could grow into something bigger.
ELETRA is part of a consortium that includes Volkswagen Caminhes e nibus, Bosch, Siemens, Meritor and others to build electric delivery trucks in Brazil. The e-Consortium has signed agreements with AMBEV, Coca-Cola, and JBS in Latin America.
VW's e-Delivery truck is a key component of this collaboration. ELETRA was instrumental in the launch of VW's e-Delivery truck by developing, in record time, the entire power train system. ELETRA has been characterized as a strategic partner.
As I understand it, Caminhes e nibus is the fulcrum of WV's new delivery family worldwide (https://vwnewsblog.blogspot.com/2017/09/new-delivery-volkswagens-new-global.html). It expanded into Asia last year.
I think there is some potential here for EXRO to access a much bigger world-wide market, including strategic funding, through ELETRA and the consortium. Assuming ELETRA is the Brazilian partner....
For more info on the e-Delivery and the e-Consortium, see: https://vwnewsblog.blogspot.com/2017/09/new-delivery-volkswagens-new-global.html