Exro Technologis Stock Price, News & Analysis

Exro Technologies has applied for a listing on the Nasdaq to enhance its global presence and visibility. This strategic move, announced on Nov. 8, 2021, aims to attract a diverse shareholder base and strengthen long-term value. The company will continue trading on the OTCQB under the symbol 'EXROF' until the listing is approved. This initiative follows Exro's establishment of a U.S. headquarters in Mesa, Arizona, focusing on next-generation power electronics. The approval process includes meeting various regulatory requirements from the U.S. Securities and Exchange Commission.

Exro Technologies has launched a new services arm, Exro Vehicle Systems, offering end-to-end electric vehicle (EV) design and engineering services to automakers. This initiative aims to integrate Exro's technology at early vehicle development stages. The division will be led by Brian Van Batavia, former Bollinger Motors Technical Director. Exro plans to establish a facility in Detroit in 2022, targeting automakers with aggressive electrification goals. The new division is expected to enhance Exro's offerings and create revenue opportunities through its advanced powertrain technologies.

Exro Technologies (EXROF) hosted its inaugural quarterly webcast on October 7, 2021, led by CEO Sue Ozdemir, updating shareholders on significant achievements. Key highlights include the successful installation of the Coil Driver with Potencia Industrial, marking the first vehicle integration. The company is making strides in securing equipment to address electric vehicle industry delays. Collaborations with Zero Motorcycles are progressing, demonstrating the Coil Driver's effectiveness. The company anticipates completing its Canadian manufacturing facility by next year, aiming for enhanced electric mobility performance.

Exro Technologies (TSX: EXRO) (OTCQB: EXROF) announced the successful independent testing of its Coil Driver™ technology by AVL, a respected powertrain testing organization. This testing demonstrated the technology's ability to optimize electric motor performance through coil switching, a first in power electronics. The results indicate reduced weight and cost potential for electric powertrains, enhancing Exro's market position in electric mobility. This validation allows for accelerated commercialization and positions Exro as a pioneering force in the industry.

Exro Technologies Inc. is set to host a webcast on October 7, detailing company updates and project milestones. Despite short-term delays in some 2021 projects, Exro remains optimistic about achieving its 2022 goals. The company will showcase its innovative Coil Driver and Battery Control System at industry conferences, including the Battery Show in Detroit from September 14-16, 2021. With over 60 employees and ongoing facility expansions, Exro is committed to revolutionizing electrification in the mobility sector.

Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) has announced the appointment of Alan Gaines to its Board of Directors, replacing Daniel McGahn, who resigned for personal reasons. Gaines, an expert in finance and clean technology, brings over 35 years of experience and has facilitated more than $100 billion in capital formation. His role aims to support Exro’s growth and expansion in electric vehicle technology.

CEO Sue Ozdemir expressed confidence in Gaines’s ability to enhance Exro's market position as the demand for clean technology rises globally.

Exro Technologies Inc. announced a strategic agreement with Linamar to develop an advanced e-Axle using Coil Driver™ technology, aiming to enhance cost and performance. The Company completed a pilot for its Battery Control System and unveiled a new application of Coil Driver™ technology to simplify electric vehicle infrastructure deployment. Financially, Exro reported a comprehensive loss of $3.74 million for Q2 2021, up from $2.25 million in Q2 2020, driven by increased expenses in R&D and administration. The Company's shares started trading on the Toronto Stock Exchange on July 8, 2021.

Exro Technologies has announced the establishment of its U.S. headquarters in Mesa, Arizona, aimed at enhancing the development of next-generation power electronics for electric motors and batteries. The move aligns Exro with the Greater Phoenix region's thriving e-mobility ecosystem, involving electric vehicle manufacturing and talent resources. Over the next 18 months, Exro plans to hire 50 employees to boost local job opportunities. The new facility will expand R&D and testing capabilities for Exro's advanced technology, Coil Driver™, facilitating efficient energy consumption in electric vehicles.

Exro Technologies has announced a new application for its patented Coil Driver™ technology aimed at reducing the cost and complexity of electric vehicle (EV) infrastructure deployment. The technology enhances powertrain performance and enables seamless fast charging while supporting grid electricity supply. Exro has filed a new family of patents for this application, now totaling 36 patents. The Coil Driver™ can integrate multiple components essential for EV operation, promising cost efficiency and scalability. Initial findings indicate potential for grid connectivity and mobile energy storage, positioning Exro as a leader in EV technology.