NDA motor partner #2 [European-Based Global Automotive Industry Supplier]
February 27, 2023 News Release: Exro Announces Signing of Strategic Partnership Memorandum of understanding (MoU) with European-Based Global Automotive Industry Supplier - The strategic partner will remain unnamed under a non-disclosure agreement (“NDA”) through phase one of the partnership (successful validation of partner motor- Exro L040 800V inverter proof-of-concept) anticipated in Q3 2023, after which the parties shall transition to definitive agreement announced with a joint press release.
- Headquartered in Europe with over 25,000 employees worldwide, the partner is a market leader in environmentally sustainable mobility for large-scale automotive OEM customers.
- The strategic partnership is intended to leverage Exro’s Coil Driver and partner’s motor to develop powertrain solutions that address the truck and bus electric commercial vehicle market and off-highway applications
- Note: When this News Release came out, Darrel Bishop initially had a LinkedIn post that said “Military applications” not ‘off-highway’ [from memory; citation or screenshot required]
- “Multi-national company that is a direct supplier to the global automotive industry”
- “Has a strong reputation as a leading technology provider to the automotive industry as well as major off-highway applications“
- “The partner’s electric motors will be calibrated with Exro’s L040 800V Coil Driver for prototype samples in Q3 2023”
- “Upon successful completion of automotive dynamometer testing, including achievement of mutually agreed to performance targets, the parties shall transition to a definitive agreement for strategic partnership which will outline volume targets, sales and marketing plans, price and production targets, and compensation models.”
- “At such time, the parties anticipate issuing a joint news release to announce the definitive agreement, thereby revealing the identity of the unnamed partner.”
- “Exro’s L040 800V Coil Driver product has been de-risked through other projects, including the same L040 800V Coil Driver inverter validated with Linamar for use in an e-axle application.“
- “Target customers for the partnership’s motor-inverter powertrain solutions include large scale automotive original equipment manufacturers (“OEM’s”) in Europe and North America.”
- March 30, 2023 Annual MD&A (2022YE)
- March 30, 2023 News Release regarding Annual report (2022YE)
- May 10, 2023 Interim MD&A (1Q2023)
- May 10, 2023 News Release: quarterly results and ‘Scorecard’ update
June 22, 2023 News Release: Operational update - Exro anticipates receipt of the NDA-partners motor in Calgary by mid-Q3 2023 followed by pairing with Exro’s Coil Driver
- “Addresses the Class 7-8 truck and bus electric commercial vehicle market as well as specialty off-highway applications.”
- August 10, 2023 Interim MD&A (2Q2023)
- August 10, 2023 News Release regarding Annual report (2Q2023)
October 26 2023 News Release: Shareholder Letter - Regarding our European NDA motor partner, we received the motors at Exro last week and are set for testing in Q4. This puts us on track to transition to a definitive agreement discussion through the end of this year.
- November 9, 2023 Interim MD&A (3Q2023)
December 20, 2023 Year-End Shareholder letter - Completed testing this month in Mesa, Arizona. We now progress into the next stage of high-torque testing at a third-party facility. We are optimistic that upon completion of this testing negotiations will include the lifting of our NDA.
- April 1, 2024 Annual Information Form
- April 1, 2024 Annual MD&A 2023YE
- May 15, 2024 Interim MD&A for 1Q2024
