![]() ![]() Vicinity - The companies have completed nearly 12 months of collaboration, with the next steps to conduct operational testing and validation for a Coil Driver TM System (400V Coil Driver TM paired with a TSA motor) in Vicinity's Lightning electric bus.Delivery of pilots to this program remains on track for Q4 2022 which will be followed by on-road testing in fleet vehicles. SEA Electric - In August, Exro announced signing of an initial purchase order backed by multiyear agreement to supply Coil Drive Systems (400V Coil Driver TM paired with a TSA motor) for SEA's next generation commercial electric vehicles (an F59 delivery truck).Following successful validation of the e-Axle program, Exro is confident of entering into a definitive contract that represents future commercial collaboration. The next phase will involve additional dyno testing and on-road validation by Linamar. The partnership with Linamar continues to be positive and collaborative as the project advances toward a significant milestone with handover of the prototype e-axle for testing, scheduled to begin on November 21, 2022. Linamar - The goal set with Linamar over 20 months ago was to develop a next-generation e-Axle utilizing Coil Driver™ technology to improve the cost and performance of Linamar's e-Axle product line.In addition, we remain optimistic about signing an additional strategic development partnership by year-end. The company is pleased to report that key deliverables and milestones for Q4 2022 remain on schedule, including: e-axle prototype delivery to Linamar, and pilots to both Vicinity and SEA Electric. In addition, the company has been working to onboard new partners that add to its future customer base. Through 2022 the Company has continued to focus on delivering results to its strategic partners, progressing partners towards commercialization and initial purchase orders linked to multi-year master sales agreements. We look forward to keeping our shareholders updated regularly on our progress on their behalf." ![]() Our Coil Driver TM is de-risked and moving into customer vehicles, our Cell Driver TM energy storage is schedule for UL certification in Q2 2023, and the demand we are seeing for our products is promising. While bringing new technology to market is never easy, and there are bound to be challenges ahead, internally we are excited by the potential the next several quarters hold for our business and shareholders. ![]() Thanks to these efforts, we remain on track for all key deliverables in Q4 2022, and importantly for start of production in Q3 2023. Despite interim delays with various items, our team has worked hard to execute and deliver. "Our Q3 results demonstrate Exro's tenacity to continue to advance our products, our partnerships, and our business through a challenging macro environment. "We are energized, we are focused, and we are determined", said CEO Sue Ozdemir. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries, is pleased to provide an operational update in conjunction with the filing its financial results for the nine months ended September 30, 2022. 10, 2022 /PRNewswire/ - Exro Technologies Inc.
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