EXRO’s Coil Driver Gains Momentum with Stellantis Partnership

Exro Technologies (EXRO.TO)

EXRO Technologies has announced a major partnership with Stellantis, the world’s fourth-largest automaker. This collaboration follows 14 months of successful testing of EXRO’s proprietary Coil Driver® system within Stellantis' EVs. This breakthrough could streamline Stellantis’ path to more affordable, efficient EVs. Moving into the second phase, the companies will work on further integrating Coil Driver technology into Stellantis' EV platforms, pushing the technology closer to mass production and potential commercial-scale deployment.

Missed our introductory post on EXRO and what the coil driver is?  You can catch up here

Who is Stellantis?

Stellantis, formed by the 2021 merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, is a global automotive giant with 6 million vehicles sold in 2022, making it the fourth-largest automaker in the world. Stellantis owns 14 iconic brands across multiple segments, including Jeep, Dodge, Chrysler, Maserati, Peugeot, Fiat, Ram, and Opel and has an annual revenue of approximately $191 billion USD for 2022.

Stellantis EV footprint

Stellantis is making major strides in the EV market, and its current lineup is performing strongly across Europe. Here are the most recent sales figures for key EV models:

• Fiat 500e – Sold around 33,000 units in 2023, making it one of the most popular city EVs in Europe.

  

• Opel Corsa-e – Reached 29,000 units sold last year, solidifying its place as a top contender in the compact EV market.

  

• Opel Mokka-e – Achieved sales of 22,000 units in 2023.

  

• Peugeot e-208 – The top-selling EV for Stellantis in Europe with 38,000 units sold.

  

• Peugeot e-2008 – A compact electric SUV that recorded 20,000 units sold in 2023.

  

• Citroën ë-C4 – Sold approximately 25,000 units last year.

  

• Jeep Avenger – Stellantis' first fully electric Jeep, with 13,000 units sold in 2023.

  

• Upcoming EV models include the Ram 1500 REV, Dodge Charger Daytona SRT, and Jeep Recon.

In total, Stellantis sold approximately 288,000 electric vehicles globally in 2023, predominantly driven by its strong presence in the European market. Stellantis plans to launch over 75 EV models by 2030, aiming to sell 5 million EVs annually.  As Stellantis ramps up its electric vehicle offerings, the Coil Driver® has the potential to play a key role in the company's electrification strategy. The partnership is now advancing to commercial-scale integration, indicating future growth in Coil Driver deployment across Stellantis’ EV platforms.