In a news release, Exro Technologies Inc. (XRO:CSE; EXROF:OTCQB) announced it is partnering with SEA Electric to develop enhanced electric powertrain technology for heavy duty trucks and delivery vehicles.
Canada-based Exro is a cleantech firm that developed a new class of control technology for electric powertrains, Coil Driver, that expands the capabilities of electric motors and powertrains. Australia's SEA Electric is "recognized as a global leader in the electrification of commercial vehicles," the release noted.
The two entities will co-develop and test powertrains that feature both of their technologies.
"By implementing an overall system optimization in concert with our patented power electronics technology, we can improve gradeability without sacrificing speed range—all without the need for multispeed mechanical gearing or a dual motor powertrain," Exro Chief Engineer Eric Hustedt said in the release.
The company noted that the "electric commercial vehicle market is growing quickly, partly because of the efficiencies and performance benefits they offer as well as government policies aimed at accelerating adoption to reduce carbon emissions." The commercial electric vehicle market is estimated to grow to $38.6 billion from $19.8 billion by 2025, the company stated.
"We believe that the trend to electrification of truck and commercial delivery fleets is profound," SEA Electric CEO Tony Fairweather said in the release. "We look forward to our partnership with Exro to continue developing powertrains that both serve existing and open new markets in this space."[NLINSERT]
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