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NDA Europe #1 (off-highway)
October 5, 2022 EXRO signs product development agreement with global market leader for off-highway application of hybrid electric powertrain
Hybrid diesel-electric application
A global leader in the design, manufacture, and distribution of solutions in an off-highway sector
NDA company is forecast to generate multi-billion dollars in sales in 2022
Create a hybrid diesel-electric powertrain with applications across a platform of products
EXRO received a purchase order for product development that includes the supply of multiple initial sample units to be delivered to the customer by the end of Q1 2023
Off-highway examples: agriculture, construction, mining, etc.
Eric H: “The Coil Driver is perfect for this type of application, easily providing the high torque required for starting diesel engines without sacrificing motoring and generating capability once the engine is running.”
“It is anticipated that the development agreement would transition into an agreement to supply the NDA partner with series production products beginning in 2024.”
“The conditional agreement is highlighted by projections of 8,000-10,000+ units annually”
In Q3 2023, our team successfully completed phase 1 testing of an Exro powered hybrid-diesel engine powertrain with our NDA partner in Europe for an off-highway application. Pleased with the results, we are hosting the NDA partner in Calgary in the coming weeks for an audit and discussions on next steps in the partnership.
Following the customer audit on-site at Exro’s Calgary facilities in November, the Exro team completed successful bench testing with our off-highway NDA partner in Europe on site this month in Europe, marking an important milestone for our relationship. With that, we now enter commercial discussions for units and systems with negotiations that involve the lifting of our NDA in early 2024.