Looks Like Exro Will be in the New Mack LR Heavy Trucks.... That is Great News......
Exro and SEA Electric have collaborated on a wide range of projects since early 2020. Following the development efforts between the companies, this agreement moves the partnership into a new commercial phase for SEA Electric's next generation F59. Exro and SEA Electric continue to collaborate and move forward with additional development projects, including an SiC 800V application for a next generation Mack LR heavy duty truck. ... recent news..... Global e-Mobility technology company SEA Electric has taken the next step in its mission to eliminate emissions from the transport sector, with the company becoming a Tier 1 partner to Mack Trucks in the USA for the supply of the proprietary SEA-Drive® power-system.
The five-year agreement will focus on the next generation of Mack’s widely popular MD range, which will see deliveries of the fully electrified models to Mack dealers across North America.
..... ( a little older news ).....is pleased to announce that it has expanded its strategic partnership with SEA Electric Pty Ltd. (“SEA Electric” or “SEA”) to accelerate development of Exro’s Battery Control System (“BCS”). “This is a big deal for Exro, a major catalyst for Exro toward our vision of becoming a leader in power electronics for mobility and energy management”, said Sue Ozdemir, Chief Executive Officer of Exro. “I am very pleased to be expanding our partnership with SEA Electric to further demonstrate the synergy our technology has from commercial trucks to energy storage.”
As part of the agreement, Exro will invest US $5 million into SEA Electric by subscribing for 124,380 Series A Preferred Shares (the “Shares”) at a price of US $40.1995 per Share. The Shares are convertible into common shares of SEA at the option of Exro and automatically covert to common shares under certain conditions, including SEA completing a going public transaction. The Shares have certain preferences for their holders in relation to dividends and on a winding up of SEA but are otherwise identical to common shares of SEA. Dividends on the Shares will be paid at the discretion of SEA’s board of directors, but in any event prior to any dividends being paid to common shareholders.