Motorino Electric

Motorino Electric (Last mention: May 11, 2021)

Motorino Electric Partnership Timeline

  • September 2019: EXRO Technologies and Motorino Electric initiate their partnership with a licensing agreement. This marks the beginning of their collaboration.
  • December 2019: EXRO delivers a proof of concept to Motorino, showcasing a 25% improvement in speed and torque. This successful demonstration highlights the potential of EXRO’s technology .
  • Throughout 2020: Motorino conducts extensive field testing of EXRO’s technology on their electric bikes. This testing provides valuable data on the real-world performance of EXRO’s Coil Driver.
  • These tests reveal that EXRO-enhanced e-bikes achieved performance increases of over 20%, and up to 50% in climbing conditions.
  • Motorino CEO Steve Miloshev noted the EXRO-enhanced bikes performed dramatically better in these field tests.
  • October 2020: EXRO publicly states, “Motorino, one of the early partners, tested EXRO’s technology through 2020 against a standard electric bike in the field. Testing found that the EXRO-enhanced electric bike saw its performance increase by more than 20 per cent, and up to 50 per cent in climbing conditions. EXRO will now start negotiations on a commercial product for 2021.”
  • Early 2021: Conflicting information begins to emerge regarding the future of the partnership as reported in the 2021-04-06-Annual-MDA-2020YE.pdf document:
    • One statement indicates that “EXRO will keep working to close negotiations within its sale pipeline in 2021 but will not be further commercializing its technology with Motorino at this time.”
    • Another comment notes that “The Vancouver-based manufacturer and distributor of electric bikes and motorcycles, tested EXRO’s technology through 2020 against a standard electric bike in the field. Testing found that the Exro-enhanced electric bike saw its performance increase by more than 20 per cent, and up to 50 per cent in climbing conditions. EXRO will now start negotiations on a commercial product for 2021.”
  • April 2021: EXRO expresses gratitude for Motorino’s support in developing their technology, but confirms that they will be transitioning to a new strategy.
  • Throughout 2021: EXRO continues to develop and refine its technology, focusing on scaling for commercialization, but is no longer working directly with Motorino.

Key Documents for your Due Diligence

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