I am interested in Danfoss, as it is the company that best checks the boxes for the NDA European motor supplier (IMO).
To recap:
- it is a tier 1 motor supplier and not an OEM
- it has 42,000 employees world wide with anticipated 2023 revenue of 10-12B euros (EXRO stated 25K+ employess and 10/12 B revenue)
- is one of the few Eurpean companies that bills itself PRIMARILY as a supplier of commercial power trains (on-road, off-road and marine), as opposed to other Tier 1 suppliers that emphasize cars. The NDA is described as a motor supplier for buses and trucks
- a subsidiary, Semikron Danfoss, has 3500 employess and is a global supplier of power electonics to the automotive sector. Its products can be found in many parking lots
- unlike other names that have been proposed, Danfoss actually supplies electric motors for buses and trucks. It has a significant motor product line.
It it is a major player in the business...which was one of EXRO's criteria for a partner. It previously was included in EXRO's potential partner list along with the likes of Allison, Bosch and Vitesco
- it is intersting the Danfoss is collaborating with ZF on future powertrain technology, with Brazilian electric truck manufacture FNM who is providing electric trucks for a beverage company, and with Vicinity
The EXRO NR that first announced the NDA included the following:
"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...The relationship between the parties has developed under NDA over a period of many months and opens the door to a large addressable market in the electric truck and bus markets as well as mining and other major off-highway segments."
These sentiments can be found throughout Danfoss's websites, for example:
"Semikron Danfoss is a GLOBAL TECHNOLOGY LEADER in power electronics."
"Our ability to execute on our promises has enabled us to build a STONG REPUTATION AS A LEADING SUPPLIER of innovative power module solutions."
"We are the NUMBER ONE SYSTEN PROVIDER across MULTIPLE OFF-HIGHWAY APPLICATIONS "
Many consider Volvo to be a frontrunner for the European "off-road" NDA. I can't think of any other European OEM that is large enough to produce 8000-10,000 units annually.
EXRO has said that The European "off-road" and "motor" NDA fall under the same umbrella. This could mean anything in EXRO code-speak, but I think that a reasonable interpretation is that the Tier 1 NDA provides powertain motor/components to the other's product lines. In that sense, Danfoss again checks the boxes with its business relationship with the Volvo Group, which in addition to construction equipment, manufactures electric busses and trucks.
From the web:
"The company (Danfoss) supplies the AC onboard charger and power supply for ALL Volvo’s electric trucks through its Danfoss Editron division."
"Through its subsidiary Semikron Danfoss, a merged entity of Danfoss Silicon Power and the Semikron company, also supplies inverters to the Volvo Group – for electric buses and trucks, but also for construction equipment and maritime applications."
EXRO's Tier 1 NR states that the NDA "...opens the door to a large addressable market in the electric truck and bus markets as well as mining and other major off-highway segments." There are other possible candidates for the NDA. But none that I could find that check the boxes as closely as DANFOSS.
Earlier in the year, DB stated that upon completion of validation, the Tier 1 NDA and EXRO would jointly make a large splash announcement in the fall. Perhaps part of the SOP celebration this week?
Interesting...in its deck, EXRO lists TSA as a supplier and not a partner. That makes TSA a Tier 2 supplier for the Lightning.