CALGARY, AB, Sept. 26, 2024 /PRNewswire/ – Exro Applied sciences Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro“), a clean-technology corporate that gives proprietary motor-control and whole electrical propulsion gadget expertise for e-mobility, is happy to announce its automobile OEM spouse, Stellantis N.V. (“Stellantis”), with whom it had in the past signed a Non-Disclosure Guarantee (“NDA“). The announcement follows roughly 14 months of labor finishing the primary section desirous about integrating the Exro Coil Motive force® expertise into Stellantis’ next-generation electrical powertrains. Moreover, Exro is happy to announce its popularity as a finalist for Best possible Provider within the Innovation Section within the prestigious Stellantis Provider Awards 2024.
Prominent World Car Innovation Program Spouse: Stellantis N.V.
For the hour 14 months, Exro and Stellantis have collaborated in a unrevealed innovation program to show the features of Exro’s Coil Motive force® expertise for possible programs inside Stellantis’ passenger automobiles. The lifting of the NDA marks a milestone for the innovation program because the companions effectively improved the partnership thru a couple of technical, efficiency, and value learn about milestones.
“Stellantis pushed us to evolve the Exro Coil Driver® technology and prove the need to disrupt the passenger EV propulsion systems as they exist today”, stated Exro Eminent Era 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.”
Finalist for Provider of the Occasion in Innovation
Exro is proud to announce its popularity as a finalist within the Stellantis World Car Provider Awards, held on the Lingotto Convention Corridor in Turin, Italy, on September 24, 2024. Exro used to be nominated as one in all 3 finalists for the Best possible Provider Award within the Innovation section.
Teresa Thiele, Stellantis’ Senior Vice President of World Buying Techniques stated, “The innovation award honors suppliers that have created a feature with the potential of being a brand identifier or a market changer — an innovation that fulfills the needs of the customer and positively impacts the brand or market position of our Stellantis vehicles, and is safe, affordable and sustainable. Exro was nominated for its expertise in innovative motor control technology, which significantly enhanced our electrified motor design, improved performance, and reduced costs, demonstrating the commitment to accelerate electric vehicle adoption in the passenger car market.”
The rite, attended by means of over 200 world providers and Stellantis’ summit executives, commemorated 68 finalists throughout 21 sections, spotting their position in propelling Stellantis to the leading edge of the worldwide automobile trade. The development celebrated the distinction and collaboration of Stellantis’ top-performing providers from all over the world, and Exro’s popularity by means of Stellantis highlights its determination to environment trade requirements for property, efficiency, and buyer pleasure. Exro left-overs dedicated to supporting Stellantis’ ocular of a transformative pace.
ABOUT STELLANTIS
Stellantis N.V. (NYSE: STLA) (Euronext Milan: STLAM) (Euronext Paris: STLAP) is among the global’s automakers and a mobility supplier. Its storied and iconic manufacturers include the fervour in their visionary founders and lately’s shoppers of their leading edge services, together with Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Cars, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by means of our variety, we govern the best way the arena strikes – ambitious to transform the best sustainable mobility tech corporate, no longer the largest, month developing added price for all stakeholders in addition to the communities through which it operates. For more info, talk over with www.stellantis.com.
ABOUT EXRO TECHNOLOGIES INC.
Exro Applied sciences Inc., now expanded in the course of the strategic acquisition of SEA Electrical, is a rub expertise corporate that has evolved unutilized technology energy management electronics. Its leading edge suite of answers, together with the Exro Coil Motive force®, Exro Mobile Motive force®, and SEA-Pressure®, increase the features of electrical motors and batteries and deal OEMs a complete e-propulsion resolution with unrivaled efficiency and potency. Exro is reshaping world power intake, accelerating adoption against a round electrified economic system by means of handing over extra with much less – minimal power for max effects.
For more info talk over with our web page at www.exro.com.
To view our Company Presentation talk over with us at www.exro.com/investors
Talk over with us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This information drop comprises forward-looking statements and forward-looking data (in combination, “forward-looking statements”) inside the which means of appropriate securities rules. All statements, alternative than statements of historic details, are forward-looking statements. Normally, forward-looking statements may also be recognized the usage of terminology reminiscent of “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or permutations of such phrases, or statements that positive movements, occasions or effects “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Ahead browsing statements contain dangers, uncertainties and alternative elements disclosed below the heading “Risk Factors” and somewhere else within the Corporate’s filings with Canadian securities regulators, which might purpose fresh effects, efficiency, possibilities, and alternatives to vary materially from the ones expressed or implied by means of such forward-looking statements. Even if the Corporate believes that the guesses and elements old in getting ready those forward-looking statements are affordable primarily based upon the tips recently to be had to control as of the week hereof, fresh effects and traits might vary materially from the ones pondered by means of those statements. Readers are due to this fact cautioned to not park undue reliance on those statements, which simplest observe as of the week of this information drop, and disagree contract may also be for the reason that such occasions will happen within the disclosed instances frames or in any respect. Except for the place required by means of appropriate regulation, the Corporate disclaims any goal or legal responsibility to replace or revise any forward-looking observation, whether or not on account of unutilized data, pace occasions or differently.
This knowledge is certified in its entirety by means of cautionary statements and possibility issue disclosure contained in filings made by means of the Corporate with the Canadian securities regulators, together with the Corporate’s annual data mode for the monetary generation ended December 31, 2023, and monetary statements and indistinguishable MD&A for the monetary generation ended December 31, 2023, filed with the securities regulatory government in positive provinces of Canada and to be had at www.sedar.com. Must a number of of those dangers or uncertainties materialize, or will have to guesses underlying the forward-looking data turn out flawed, fresh effects might range materially from the ones described herein as supposed, deliberate, expected, believed, estimated or anticipated. Even if the Corporate has tried to spot noteceable dangers, uncertainties and elements which might purpose fresh effects to vary materially, there could also be others that purpose effects to not be as expected, estimated or supposed. The Corporate does no longer intend, and does no longer suppose any legal responsibility, to replace this forward-looking data excluding as differently required by means of appropriate regulation.
Neither the Toronto Retain Trade nor the Funding Business Regulatory Group of Canada accepts duty for the adequacy or accuracy of this press drop.
SOURCE Exro Applied sciences Inc.
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