Frequently Asked Questions and Answers

In 2023, Exro will have a fully operational facility that handles the majority of the production. We are targeting licensing agreements for 2024 and beyond.

The company is optimistic that first purchase orders for Coil Driver will be placed prior to the third quarter of this year.

Like many CES participants, Exro felt the impact of the event's low attendance numbers, shortened exhibiting days, and the pressure to switch to a virtual presence last minute to lower the risk of transmitting the rapidly spreading COVID-19 omicron variant. That said, Exro did receive a number of meeting requests, including a few significant opportunities that we are developing.

Under NDA, we have a variety of organizations with interest in our Coil Drivers.

The project with evTS is progressing on schedule and test bench results in Q3 are still expected.

Yes, the deliveries to our partners SEA Electric, Vicinity, and Linamar are still on track for Q2 of this year.

The Potencia results will be released in Q2. We continue to move forward with successful validation as both teams ensure on-road product reliability.

The dyno for our Mesa, Arizona facility has arrived and is being installed and commissioned now; it will be operational in early March. The new, large automotive dyno for Calgary is on schedule for delivery in July.

The facility construction and the implementation of quality systems for certifications are occuring in parallel. We will provide more details on the manufacturing facility roadmap during our April webcast.

Upon completion of our financing, we have a strong bank account of over $31 Million CAD, and we are well-positioned to deliver for our shareholders.

It varies by customer and is not one set milestone. As soon as the company is able to publicly disclose these project updates, they will.

Exro will host a quarterly webcast update on Thursday, April7, 2022, at 10 AM PST / 1 PM EST to review company updates.

We have seen some continued pressure on logistics and supply chain. While we continue to mitigate and manage this, we do foresee that delayed supply will impact our low voltage product line.

We have been onboarding new employees weekly. We keep many of our postings listed as we recruit mulitiple employees for the same roles. In the last few months we have added roles in engineering, supply chain, application engineering, finance and marketing.

At this time we cannot provide any additional details on the case.

Exro has discussed the lawsuit with all partners and has had legal counsel available to meet with our clients' legal teams upon request. To date we have not experienced any concerns or project delays.

Independent third-party organization AVL conducted multiple tests on Exro’s Coil Driver, demonstrating its coil switching capabilities to optimize performance of an electric motor through the power electronics. Results also prove Exro’s Coil Driver has successfully combined two traditionally separate formats of power electronics for the first time, that has the potential to reduce the weight and cost of electric powertrains. As the product matures, we continue to conduct rigourous testing at all stages of product development as required by automotive standards.

Exro has been developing our high voltage 800V Coil Driver with SiC for over 18 months and has included this in our forecasts for 2023+.

The vehicle integrations are all progressing as planned. We continue to develop the software for the best on-road experience and reliability.

For some markets that have constant torque applications, cost may be a barrier as there could be other power electronics that accomplish a constant torque for less cost versus varying torque applications.

Yes! Stay tuned to see these comparisons later this year.

Exro is focused on implementing quality management systems that support IATF 16949, which is the automotive quality standard that all Tier 1 automotive companies adhere to, including our partner Linamar. This includes all testing, safety, and reliability risks required for an automotive grade product. We are on track for implementing this system alongside the start of production from our Calgary manufacturing facility.

Yes! The High Voltage Coil Driver pilots delivering to partner projects in Q2 of this year will include the new AC fast charging features.

The Battery Control System product is on schedule. We will provide more specific updates at our webcast on April 7, 2022.

The Battery Control System product will submit to UL in late Q2 of this year and we anticipate a UL-certified product by end of this year.

No, we make the controllers that drive the motors. Because we can accomplish coil switching with our controller, it allows us to control an electric motor more than ever before.

Coil Switching has been around for many years and we did not invent it. Rather we invented a controller that was able to achieve coil switching while driving an electric motor.

Our Coil Driverᵀᴹ is a next generation controller that expands the capabilities of electric motors by enabling multiple dynamic profiles in operation.

Any alternate current (AC) motor.

Yes, we have both issued and patents pending on our technologies.

Exro can be found in both Canada and US stock markets. In Canada, TSX: EXRO and in USA, OTCQB: EXROF. For more information, visit our Stock page.

All of our projects remain on schedule and are on track for deliveries starting in Q2. We will provide further details during our company update webcast on Thursday, April 7, 2022, at 1:30 PM PST / 4:30 PM EST.