STELLANTIS Previously referred to as Global leading automotive [OEM NDA #1]
- July 13, 2023 News Release: Innovation project with Leading Global Automotive OEM
August 10, 2023 Interim MD&A (2Q2023) - A world leading global automotive OEM has engaged Exro in a collaboration to explore the latest advancements in power electronics technology to deliver higher continuous power and torque output compared to conventional systems.
- The Parties will work together to design a proof-of-concept Coil Driver plus motor system that would specifically fit into a defined electric machine housing.
- The Parties anticipate completion of the proof-of-concept Coil Driver plus optimized motor design system by the end of Q4 2023, followed by delivery of functional prototypes to the OEM by the end of Q4 2024.
- Expected to enter a period of testing, including performance, durability, and reliability while determining next steps.
- Signing the agreement does not constitute any exclusivity to either of the Parties.
- August 10, 2023 News Release regarding Annual report (2Q2023)
November 9, 2023 Interim MD&A (3Q2023) - We are very pleased to report that Exro was notified today that the project has been approved to progress to the next phase.
- Together with our NDA partner, we have completed a rigorous simulation phase to design a Heavy Rare Earth/Rare Earth (HRE/RE) free optimized motor and Coil Driver inverter system.
- We will now ramp up preparations for the second phase of the project which will consist of the passenger vehicle prototype development for delivery and testing together with our OEM partner in 2024.
January 15, 2024 2024 Shareholder letter - The optimized Coil Driver-Heavy Rare Earth/Rare Earth (HRE/RE) free motor design demonstrated the ability to meet the stringent performance and efficiency targets for passenger vehicles with this type of machine while meeting challenging mechanical and system criteria.
- Reduction of rare earth materials in electric vehicle motors is quickly emerging as a significant priority challenge for industry to overcome.
- Exro has moved from design to prototype development build of the Coil Driver in one of the world’s largest automotive companies’ passenger vehicles marking a significant milestone in our collaboration.
- Significance cannot be overstated and serves as the “holy grail” potential with the ultimate desired objective of having Coil Drivers in millions of passenger vehicles.
- March 6, 2024 News Release: Corporate update with Letter to Shareholders
- April 1, 2024 Annual Information Form
- April 1, 2024 Annual MD&A 2023YE
May 15, 2024 Interim MD&A for 1Q2024 - “Exro’s innovation program with its leading global passenger vehicle automotive OEM under NDA continues to progress well through phase two, which includes deliveries of Coil DriverTM prototypes with optimized OEM partner’s motor in 2024. The intent of this innovation program is to demonstrate the Coil Driver’sTM industry disruptive ability to reduce dependency of rare-earth metals in electric motors. This ability has also attracted the attention of other major global automotive OEMs.”
- May 29, 2024 Slide Deck provided by Jeff O’Dowd to investor via email on August 13, 2024 just prior to Q2 Earnings call [PowerPoint Download]
June 13, 2024 News Release: Operational update - On-track through phase 2, which includes the development and prototype delivery of reduced rare earth material motors paired with Exro Coil Driver inverter technology in 2024.
August 14, 2024 2Q2024 Earnings call slide deck - Innovation program with leading global auto OEM #1.
- September 4, 2024 Slide Deck in conjunction with financing
- September 26, 2024 Stellantis Recognizes 68 Global and Regional Suppliers at Supplier of the Year Event.
September 26, 2024 Exro Announces Stellantis N.V. as Passenger Vehicle Innovation Program Partner and Named Finalist at Stellantis’ Supplier of the Year Awards - Exro was nominated as one of three finalists for the Best Supplier Award in the Innovation category.
- “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 following suppliers were nominated for outstanding performances in their respective categories: ….. EXRO, ……”
- “…pleased to announce its automotive OEM partner, Stellantis N.V. (“Stellantis”), with whom it had previously signed a Non-Disclosure Agreement (“NDA”).
- Follows approximately 14 months of work completing the first phase focused on integrating the Exro Coil Driver® technology into Stellantis’ next-generation electric powertrains.
- 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.
- “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.”
November 13, 2024 Interim MD&A (3Q2024) - This announcement followed approximately fourteen months of work completing the first phase of the program focused on integrating the Exro Coil Driver® technology into Stellantis’ next-generation powertrains.
