Exro Technologies provides an operational update and publishes financial results for the third quarter of 2022

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  • A clean technology company called Exro Technologies Inc. has created a new generation of power electronics that are expanding how energy is optimized globally. In conjunction with the submission of financial results for the nine months ended September 30, 2022, Electrotechnology Capabilities, Motors, and Batteries is happy to provide an operational update.

We are enthusiastic, resolute, and determined. Our third quarter results show how determined Exro is to advance our products, alliances, and business in a difficult macro environment. Our team has put a lot of effort into the delivery and implementation, though. We are now on track to achieve all important results in Q4 2022 and, most importantly, to begin production in Q3 2023 thanks to these efforts.

Although there will undoubtedly be difficulties in bringing new technology to market, internally we are optimistic about the opportunities they will present for both our business and our shareholders. Your vehicle has been equipped with our Coil DriverTM, which is risk-free. The UL certification for our Cell DriverTM energy storage is expected in Q2 2023, and the outlook for our goods’ demand is positive. I’m looking forward to giving our shareholders regular updates on our progress.

The business maintained its focus on delivering results to strategic partners through 2022. It also encouraged partners to go into commercialization and placed the first orders under multi-year framework agreements. The business is also registering new partners to increase the size of its customer base in the future. The company is pleased to announce that it is on track with key results and milestones heading into the fourth quarter of 2022.

Languager – To increase the efficiency and performance of Linamar’s e-truck product line while lowering cost, the company set a goal more than 20 months ago to develop the next generation of e-trucks using Coil DriverTM technology.

Before the year is over, the company will also finalize another strategic development relationship.

As the project gets closer to the significant milestone of handing over an e-axle prototype for testing, set to commence on November 21, 2022, the cooperation with Linamar continues to be fruitful and encouraging. Additional bench testing and Linamar’s on-road validation will be part of the following step. Exro expects it will be able to finalize agreements for upcoming commercial cooperation following the successful validation of the e-Axle program.

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