Back in 2022, Exro Technologies introduced a new product that integrated an EV’s motor, drive, gearing and AC charging system into one compact system. (Read an in-depth interview with company executive Josh Sobil in our Oct-Dec 2022 print issue.)
Combining EV components into more compact units is an ongoing trend, both in the powertrain (e-axles) and the battery compartment (cell-to-pack). However, things don’t appear to have worked out for Exro—the company continues to operate, but it has terminated 60 of its employees, postponed its shareholder meeting, and gone into receivership.
Now Exro has announced that some of its assets, or units of the company, may be up for sale: “Exro’s strategic review process is ongoing, with current discussions focused on the potential sale of the company’s intellectual property and technology, and the potential sale of certain limited components of the company’s business.”
The receiver, FTI Consulting Canada, “is authorized to market any or all of the Exro Technologies Inc., DPM Technologies Inc. and Cellex Energy Inc.’s property, including advertising and soliciting offers in respect of the property.”
More information about the asset sales can be found on FTI Consulting’s web site.
Source: Exro Technologies
