After being chosen as an exclusive supplier, Expion360 Inc. (NASD: XPON) shares increased 146.06% to trade at $2.42 in pre-market at the last check.
Who specifically chose XPON as a supplier?
An overland trailer that will be branded and sold by a leading U.S. sports utility vehicle manufacturer will use high-energy lithium-ion batteries from Expion360 (XPON), according to a company announcement.
The award-winning overland trailer, which was designed by experts in advanced vehicle engineering and was influenced by armed services ruggedized surveillance trailers, sets a new standard for off-road performance, comfort, and clean power capabilities.
Modern Li-ion batteries from Expion360 have been incorporated as a crucial component of the trailer’s onboard solar-powered storage system. On the top versions, power systems with lithium batteries from Expion360 will come as standard.
In the first quarter of 2023, XPON intends to start delivering lithium batteries to the trailer maker. XPON hopes to have a fruitful and lasting partnership with this supplier.
Beginning early in the next year, the overland trailer should be sold by more than 5,000 SUV dealers in North America.
The most durable and dependable onboard power system currently available, powered by XPON, will help overland enthusiasts go farther and achieve more in the Country Side. Owners of overland trailers will be able to genuinely Power the Pursuit of their Adventures thanks to the Expion360 batteries.
Expion360 lithium batteries are more reliable than competing Li-ion batteries and have superior design, structure, and capacity when compared to lead-acid batteries. Expion360 batteries can last 12 years, which is three to four times longer than ordinary lead-acid batteries since they use lithium iron phosphate (LiFePO4).
How would XPON gain from the agreement?
Expion360 (XPON) batteries’ excellent design and value, as well as the outstanding engineering assistance the business offers its OEM partners, are strongly validated by this significant exclusive supply arrangement with a top overland trailer manufacturer. Being a part of an acclaimed SUV brand’s North American launch of a winner overland trailer raises customer awareness of the XPON brand. This is a genuinely significant turning point for Expion360.