Exro Technologies up after starting production of inverter technology for EVs

Exro Technologies

06/09/2023 13:43

** Shares of electric motor-focused clean tech company Exro
Technologies  EXRO.TO  rise about 1% to $2.24 premarket on the
Toronto Stock Exchange 
    ** Over the counter (OTC) U.S- listed shares edge higher by
0.5% to $1.64 premarket
    ** EXRO started production of its patented 'Coil Driver'
inverter technology for electric vehicles at the company's 
manufacturing facility in Alberta, Canada
    ** Production is backed by initial purchase order
commitments from HB4 Group, a supplier for original equipment
manufacturers, followed by deliveries to Canadian electric bus
and commercial vehicle manufacturer Vicinity Motor  VMC.V   
    ** Average rating for the stock is "buy" with analysts' 
median PT of $3.25- LSEG
    ** Up to last close, stock had risen ~7% YTD

 (Reporting by Arsheeya Bajwa in Bengaluru)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com // +91 8510015800))