Exro Announces Stellantis N.V. as Passenger Vehicle Innovation Program Partner and Named Finalist at Stellantis'; Supplier of the Year Awards
Exro Technologies Inc. has announced Stellantis N.V. as its automotive OEM partner for a passenger vehicle innovation program. The announcement follows 14 months of collaboration integrating Exro's Coil Driver® technology into Stellantis' next-generation electric powertrains. Exro has also been named a finalist for Best Supplier in the Innovation Category at the Stellantis Supplier Awards 2024.
The partnership has progressed through multiple technical, performance, and cost study milestones. Exro's technology aims to enhance system efficiency and power while potentially reducing costs and accelerating EV adoption. Stellantis recognized Exro for its innovative motor control technology, which improved electrified motor design, enhanced performance, and reduced costs in passenger car EVs.
Exro Technologies Inc. ha annunciato Stellantis N.V. come partner OEM automobilistico per un programma di innovazione sui veicoli passeggeri. L'annuncio arriva dopo 14 mesi di collaborazione per integrare la tecnologia Coil Driver® di Exro nei propulsori elettrici di nuova generazione di Stellantis. Exro è stata anche nominata finalista per il Miglior Fornitore nella Categoria Innovazione agli Stellantis Supplier Awards 2024.
La partnership ha progredito attraverso molteplici traguardi tecnici, di prestazione e di costi. La tecnologia di Exro mira a migliorare l'efficienza del sistema e la potenza, riducendo potenzialmente i costi e accelerando l'adozione dei veicoli elettrici. Stellantis ha riconosciuto Exro per la sua tecnologia innovativa di controllo dei motori, che ha migliorato il design dei motori elettrificati, aumentato le prestazioni e ridotto i costi nei veicoli elettrici passeggeri.
Exro Technologies Inc. ha anunciado a Stellantis N.V. como su socio OEM automotriz para un programa de innovación en vehículos de pasajeros. El anuncio se produce tras 14 meses de colaboración integrando la tecnología Coil Driver® de Exro en las cadenas de tracción eléctrica de nueva generación de Stellantis. Exro también ha sido nombrada finalista para el Mejor Proveedor en la Categoría de Innovación en los Stellantis Supplier Awards 2024.
La asociación ha avanzado a través de múltiples hitos técnicos, de rendimiento y de estudio de costos. La tecnología de Exro tiene como objetivo mejorar la eficiencia del sistema y la potencia, al tiempo que reduce potencialmente los costos y acelera la adopción de vehículos eléctricos. Stellantis reconoció a Exro por su innovadora tecnología de control de motores, que mejoró el diseño de motores electrificados, mejoró el rendimiento y redujo los costos en los vehículos eléctricos de pasajeros.
Exro Technologies Inc.가 승용차 혁신 프로그램을 위한 자동차 OEM 파트너로 Stellantis N.V.를 발표했습니다. 이 발표는 14개월 간의 협력 후 이루어졌으며, Exro의 Coil Driver® 기술이 Stellantis의 차세대 전기 파워트레인에 통합되었습니다. Exro는 또한 2024년 Stellantis Supplier Awards에서 혁신 카테고리 최우수 공급업체 프리미어로 선정되었습니다.
파트너십은 여러 기술적, 성능적, 비용 연구 이정표를 통해 발전해왔습니다. Exro의 기술은 시스템 효율성과 전력을 향상시키는 것을 목표로 하며, 잠재적으로 비용을 절감하고 전기차 채택을 가속화할 수 있습니다. Stellantis는 Exro의 혁신적인 모터 제어 기술을 인정했으며, 이는 전기차의 전동 모터 설계를 개선하고 성능을 높이며 비용을 절감했습니다.
Exro Technologies Inc. a annoncé que Stellantis N.V. était son partenaire OEM automobile pour un programme d'innovation sur les véhicules passagers. Cette annonce fait suite à 14 mois de collaboration visant à intégrer la technologie Coil Driver® d'Exro dans les groupes motopropulseurs électriques de nouvelle génération de Stellantis. Exro a également été désignée finaliste du meilleur fournisseur dans la catégorie innovation aux Stellantis Supplier Awards 2024.
Le partenariat a progressé à travers plusieurs étapes techniques, de performances et d'études de coûts. La technologie d'Exro vise à améliorer l'efficacité et la puissance du système tout en réduisant potentiellement les coûts et en accélérant l'adoption des véhicules électriques. Stellantis a reconnu Exro pour sa technologie de contrôle des moteurs innovante, qui a amélioré la conception des moteurs électrifiés, augmenté les performances et réduit les coûts des véhicules électriques de tourisme.
Exro Technologies Inc. hat Stellantis N.V. als seinen Automobil-OEM-Partner für ein Innovationsprogramm für Personenwagen bekannt gegeben. Die Ankündigung erfolgt nach 14 Monaten Zusammenarbeit, in denen Exros Coil Driver®-Technologie in die zukünftigen elektrischen Antriebe von Stellantis integriert wurde. Exro wurde außerdem als Finalist für den besten Lieferanten in der Innovationskategorie bei den Stellantis Supplier Awards 2024 ausgewählt.
Die Partnerschaft hat sich durch mehrere technische, leistungsbezogene und kostenstudienmäßige Meilensteine weiterentwickelt. Die Technologie von Exro zielt darauf ab, die Systemeffizienz und -leistung zu verbessern und dabei potenziell die Kosten zu senken und die Akzeptanz von Elektrofahrzeugen zu beschleunigen. Stellantis erkannte Exro für seine innovative Motorsteuerungstechnologie an, die das Design elektrifizierter Motoren verbesserte, die Leistung steigerte und die Kosten in Elektro-Pkw senkte.
- Collaboration with major automotive OEM Stellantis N.V. for 14 months
- Named finalist for Best Supplier in Innovation Category at Stellantis Supplier Awards 2024
- Successful progression through technical, performance, and cost study milestones
- Recognition for enhancing electrified motor design and improving performance
- None.
Insights
Exro's partnership with Stellantis marks a significant milestone in EV powertrain innovation. The Coil Driver® technology has demonstrated its potential to enhance system efficiency, power and cost-effectiveness in passenger EVs. This collaboration could lead to a paradigm shift in EV propulsion systems, potentially accelerating global EV adoption.
Being named a finalist for Stellantis' Supplier of the Year in Innovation further validates Exro's technological prowess. It suggests that Stellantis sees real-world application potential for Exro's motor control technology in their future EV lineup. This recognition from a major automotive player like Stellantis could open doors to additional partnerships and market opportunities for Exro in the rapidly growing EV sector.
This announcement is highly positive for Exro Technologies. Partnering with Stellantis, a global automotive giant, significantly enhances Exro's market position and credibility. The lifting of the NDA and public acknowledgment of the partnership could lead to increased investor confidence and potential stock price appreciation.
While specific financial details are not disclosed, being a finalist for Stellantis' Supplier Awards suggests a strong likelihood of future commercial agreements. This could translate into substantial revenue opportunities for Exro in the coming years. Investors should monitor for any follow-up announcements regarding commercial contracts or production commitments, which would be key catalysts for Exro's financial performance and stock valuation.
For the past 14 months, Exro and Stellantis have collaborated in a confidential innovation program to demonstrate the capabilities of Exro's Coil Driver® technology for potential applications within Stellantis' passenger vehicles. The lifting of the NDA marks a milestone for the innovation program as the partners successfully progressed the partnership through multiple technical, performance, and cost study 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", said Exro Chief Technology 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."
Exro is proud to announce its recognition as a finalist in the Stellantis Global Automotive Supplier Awards, held at the Lingotto Conference Hall in
Teresa Thiele, Stellantis' Senior Vice President of Global Purchasing Programs said, "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 ceremony, attended by over 200 global suppliers and Stellantis' top executives, honored 68 finalists across 21 categories, recognizing their role in propelling Stellantis to the forefront of the global automotive industry. The event celebrated the excellence and collaboration of Stellantis' top-performing suppliers from around the globe, and Exro's recognition by Stellantis highlights its dedication to setting industry standards for quality, performance, and customer satisfaction. Exro remains committed to supporting Stellantis' vision of a transformative future.
Stellantis N.V. (NYSE: STLA) (Euronext Milan: STLAM) (Euronext Paris: STLAP) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today's customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram,
Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. Its innovative suite of solutions, including the Exro Coil Driver®, Exro Cell Driver®, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at www.exro.com/investors
Visit us on social media @exrotech.
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2023, and financial statements and related MD&A for the financial year ended December 31, 2023, filed with the securities regulatory authorities in certain provinces of
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of
View original content to download multimedia:https://www.prnewswire.com/news-releases/exro-announces-stellantis-nv-as-passenger-vehicle-innovation-program-partner-and-named-finalist-at-stellantis-supplier-of-the-year-awards-302259216.html
SOURCE Exro Technologies Inc.
FAQ
What is the significance of Exro Technologies' partnership with Stellantis N.V. for EXROF stock?
How has Exro Technologies (EXROF) been recognized by Stellantis in September 2024?
What are the potential benefits of Exro's Coil Driver® technology for Stellantis' electric vehicles?
