EXCLUSIVE: Ideal Power Advances EV Technology with Stellantis, Completes Key Phase in Developing Next-Gen EV Inverters
Portfolio Pulse from Anusuya Lahiri
Ideal Power Inc (NASDAQ:IPWR) has completed Phase II of a product development agreement with Stellantis NV (NYSE:STLA), advancing the development of next-gen EV inverters. The partnership focuses on developing a custom B-TRAN power module for Stellantis' EV drivetrain inverters. Phase II achievements include delivering tested B-TRAN devices and drivers, with Phase III aiming to certify a production-ready B-TRAN module by 2025. IPWR shares rose 6.18% in premarket trading.
February 22, 2024 | 2:21 pm
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Ideal Power Inc completes Phase II with Stellantis, advancing next-gen EV inverter technology. Shares rose 6.18% in premarket trading.
The successful completion of Phase II in the partnership with Stellantis and the advancement in EV inverter technology are significant milestones for Ideal Power. This progress, along with the premarket share price increase, indicates positive investor sentiment and potential for future growth, especially as the company moves towards Phase III with the aim of certifying a production-ready module by 2025.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Stellantis partners with Ideal Power on developing next-gen EV inverters, completing Phase II of their agreement.
Stellantis' collaboration with Ideal Power on developing next-gen EV inverters marks a strategic move towards enhancing its EV platform. The completion of Phase II and the transition to Phase III for certifying the B-TRAN module by 2025 highlight Stellantis' commitment to innovation in EV technology. This partnership and progress may positively influence Stellantis' market perception and future EV offerings.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80