- Exro Technologies stock (TSX:EXRO) rose after an agreement with a leading global automotive OEM
- The companies will explore powertrain innovations with the automaker’s electric passenger vehicles using Exro’s Coil Driver
- Functional prototypes are slated for delivery by Q4 2024
- Exro Technologies is a clean technology company developing next-gen power control electronics that expand the capabilities of electric motors and batteries
- Exro Technologies stock (TSX:EXRO) opened with a gain of 1.27 per cent, trading at $2.39 per share
Exro Technologies stock (TSX:EXRO) rose following an innovation agreement with a major automaker.
The companies will explore powertrain innovations with the automaker’s electric passenger vehicles using Exro’s power electronics technology. This includes testing the ability of Exro’s Coil Driver to improve continuous power and torque output of the powertrain in the original equipment manufacturer’s vehicles. Exro’s news release did not name the OEM.
The collaboration will begin by designing a proof-of-concept Coil Driver and motor system with the latest advancements in power electronics technology by Q4 2023. The Coil Driver will deliver higher continuous power and torque output compared to conventional 3-phase inverters.
This will be followed by delivery of functional prototypes by the end of Q4 2024 for performance, durability and reliability testing.
The agreement does not include exclusivity clauses for either party.
Exro Technologies is a clean technology company developing next-gen power control electronics that expand the capabilities of electric motors and batteries.
Exro Technologies stock (TSX:EXRO) opened with a gain of 1.27 per cent, trading at $2.39 per share.
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