The strategic partnership amplifies Exro's
market presence with access into Wolong's extensive customer
network for e-mobility applications
- Wolong Electric Group is a world-famous automation solution
supplier and one of world's top three motor manufactures for
industrial and automotive applications with ownership of a family
of brands including ATB Group, Brook
Crompton, GE Industrial Motors, and others.
- The strategic partnership is intended to leverage Exro's
Coil Driver™ technology and Wolong's motor design and
manufacturing capabilities to develop next-generation electric
vehicle powertrain solutions from light to heavy duty applications
in the Americas, with the potential to expand globally.
- The agreement consists of two phases: 1) System development,
whereas Exro will test motors provided by Wolong and develop a
complete motor-drive system offering, and 2) Commercial plan to
market, sale, and supply the motor-inverter solution.
- Target key customers for the partnership's powertrain
solutions include Mercedes-Benz, Geely Automotive, ZF Group, and
others.
CALGARY,
AB, April 17, 2023 /CNW/ - Exro Technologies
Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or
"Exro"), a leading clean technology company that has
developed new generation power control electronics that expand the
capabilities of electric motors and batteries, is pleased to
announce that it has entered into a strategic partnership ("the
partnership") with Wolong Electric Group Ltd ("Wolong"),
world-renowned automation solution supplier and one of world's top
three motor manufactures for industrial and automotive
applications. The partnership aligns directly with Exro's targeted
go-to-market strategy for its patented Coil
Driver™ inverter technology ("Coil Driver™"),
partnering with leading global tier-1 automotive suppliers that
accelerate and amplify Exro's market presence.
"We are excited to welcome Wolong as a strategic motor partner,"
said Exro CEO Sue Ozdemir. "Having
previously been a part of the Wolong family, I have first-hand
perspective on the world-class motor manufacturing capabilities
that allow Exro the opportunity to scale into multiple large
customer platforms. The partnership is yet another validation of
Exro's patented core technology and we are leveraging the platforms
of some of the largest automotive supply companies in the world to
bring our technology to market."
Partnering with Wolong Electric –
Top Three Global Motor Manufacturer
Wolong Electric Group is a world-famous industrial automation
solution supplier and one of world's top three motor manufacturers.
Founded in 1984, the business covers more than 100 countries and
regions around the world and ownership of a family of brands
including ATB Group, Brook Crompton,
GE Industrial Motors, and others. Wolong's EV motor division was
established in 2011, concentrating on R&D, manufacturing, and
sales of electric vehicle motors. Over the last decade, the
division has grown to a leader in new energy vehicle drive systems
covering passenger cars, utility vehicles, sport utility vehicles,
commercial vehicles, and light passenger vehicles. Since 2015,
Wolong has maintained a greater than 10% market share of electric
vehicle motors supported by one of the world's most advanced
intelligent manufacturing factories in the motor industry with an
annual production capacity of 500,000 units.
Target key customers for the partnership's motor-inverter
powertrain solutions include Mercedes-Benz, Geely Automotive, ZF
(which established a joint venture with Wolong in 2020), and
others.
Strategic Partnership Agreement
Framework
The strategic partnership is intended to leverage Exro's Coil
Driver™ technology and Wolong's design, manufacturing,
and supply capabilities to develop next-generation electric vehicle
("EV") powertrain solutions for electric commercial vehicles and
off-highway applications in the Americas, with the future
possibility of licencing the Exro inverter to Wolong for use in
Asia. The relationship between the
parties has developed under NDA over a period of many months. Under
phase one of the agreement, Exro will test motors provided by
Wolong and develop a complete motor-inverter system offering for
light, medium, heavy duty and off highway applications. Dynamometer
testing of the system is anticipated to be completed by the end of
Q4 2023. Following successful completion of automotive dynamometer
testing, the parties shall transition to phase two of the agreement
which will outline volume targets, sales and marketing plans, price
and production targets, and compensation models.
Exro's Value Proposition to
Wolong
Exro designs, develops, and manufactures advanced power
electronics controls for electric vehicles. The power controller
inside every electric vehicle is called an inverter, which is
essentially the brain between the battery and the electric motor.
An electric motor is only as smart as the controller telling it how
to behave. While advancements in components (ex. SiC) have improved
inverter technology over the years, the core technology behind the
standard 3-phase inverter inside of every electric vehicle today
has remained unchanged – until now. Exro's patented Coil
Driver™ takes the prior-art physics of coil-switching and
provides the ability to control an electric motor at the individual
coil level through the power electronics. This coil-level control
provides the ability to switch motor profiles in real-time to
deliver two separate speed-torque profiles from the same motor,
effectively acting like an electronic gear to expand the operating
range of the motor. This functionality is not offered by any other
inverter on the market today. While the Coil Driver™
performs the same functions as every standard 3-phase inverter, the
Coil Driver™ allows electric vehicle OEM suppliers like
Wolong the ability to offer its customers significant flexibility
in design while providing differentiated vehicle performance:
- Increased torque and power output. The Coil
Driver™ increases powertrain performance by up to 50%.
For electric commercial trucks and buses, this translates to
improved gradeability, better performance on steep routes, and
expansion of routes a vehicle is capable of travelling.
- Improved efficiency. The Coil
Driver™ delivers increased performance without
sacrificing range. Improved efficiency translates into range of the
vehicle, extending routes and lowering overall spend on
charging.
- System cost reduction. Implementation of Exro's
technology can lower the vehicle powertrain cost by up to 20% by
optimizing the system to reduce weight and complexity: reducing (or
eliminating) components such as multiple motors, mechanical
gearboxes, battery size, etc.
- AC fast-charging. Native to Exro's high-voltage Coil
Driver™ products is an ability to AC fast-charge,
eliminating the need for an on-board charger (currently a standard
component in all electric vehicles). The ability to fast charge
using AC instead of DC power leads to potential cost savings of up
to 90% on infrastructure.
For additional information on Exro's Coil Driver™
technology, please click here: Exro Coil Driver Product
Catalogue
ABOUT WOLONG
Wolong Electric Group Co. Ltd is a world-famous industrial
automation solution supplier and one of world's top three motor
manufactures. Founded in 1984, the business covers more than 100
countries and regions around the world. Wolong strives to become
number one in e-motor industry.
ABOUT EXRO TECHNOLOGIES
INC.
Exro Technologies Inc. is a leading clean technology company
that has developed new generation power control electronics that
change how the world optimizes energy by expanding the capabilities
of electric motors and batteries. The company's innovative
technologies serve to bridge the performance-cost gap in e-mobility
(Coil Driver™) and stationary energy storage (Cell
Driver™), and act to accelerate adoption towards a circular
electrified economy by delivering more with less – minimum energy
for maximum results.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at
www.exro.com/investors
Visit us on social media @exrotech.
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SOURCE Exro Technologies Inc.