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Innovative Battery Developer's EV Partner Books $50 Million in Vehicle Orders in Three Days

Source: Streetwise Reports

 

March 29, 2021 (Investorideas.com Newswire) EV Battery Tech has partnered with Daymak to equip its electric and light electric vehicle Avvenire series with EV Battery Tech's innovative IoniX Pro batteries and battery management system.


Extreme Vehicle Battery Technologies Corp. (ACDC:CSE) (EV Battery Tech) has teamed up with Daymak International Inc. to supply its Daymak Avvenire electric vehicles with its ground-breaking IoniX Pro lithium ion battery packs.

Three days after initiating pre-sales on Tuesday, March 23, Daymak has received orders totaling more than $50 million. Daymak estimates that more than 30% of its production costs are in the IoniX Pro battery and battery management system (BMS).

"For the Spiritus to achieve the fast acceleration of zero to 60 in 1.8 seconds, we will require quality parts with solid performance. IoniX Pro products meet and exceed all of our requirements," said Aldo Baiocchi, president of Daymak.

"IoniX Pro Lithium-Ion batteries are powered by artificial intelligence and use machine learning to constantly improve efficiency and effectiveness. The battery systems are equipped with patented battery management systems (BMS) that provide in-depth analytics at the modular level, which is incredible," Robert Abenante, IoniX Pro Chief Innovation Officer (CINO), told Streetwise Reports.

"We have used this technology to design and launch some of the most revolutionary Energy Management Systems (EMS), such as the Home SmartWall and TITAN EnergyCore," continued Abenante. "Now we are ready to focus on the EV market with the latest release of our EV Smart Charging Station and customizing battery systems for Daymak's exciting new Avvenire EV and LEV line-up."

All of Daymak's electric vehicles are expected to use the IoniX Pro lithium ion battery, including its newest addition to its lineup, the Daymak Spiritus. "The Spiritus is a three-wheel, two-seat EV which handles like a go-kart, offers quick acceleration of 60 miles per hour time of 1.8 seconds, and is set to contain some of the most advanced technology features which are set to be unveiled in the near future," the company stated.

The Daymak Avvenire series of electric and light electric vehicles includes five additional vehicles:

"We are working closely with Daymak to develop all the batteries and BMS for the Avvenire series. This can only be achieved thanks to our advanced technology and efficient price models," stated EV Battery Tech CEO Bryson Goodwin.

"We truly believe our AI-powered BMS technology, combined with Daymak's Avvenire, will bring revolutionary EVs and LEVs products to the market in the coming years," noted Goodwin.

Daymak's flagship EV is expected to be on the streets in 2023.

According to the company, "Daymak is already Canada's largest Light Electric Vehicle (LEV) distributor, with one of the largest distribution networks in North America which includes Walmart, Costco, TSC, QVC, Best Buy, Hudson's Bay plus a network of 150 dealers across Canada and the USA."

Daymak has showrooms in Los Angeles, Toronto and Rome, with more planned.

"We are extremely pleased with the numbers we have seen in the first three days of pre-orders but fully believe we have just started scratching the surface as far as the total number of pre-orders go," Baiocchi stated.

Disclosure:

1) Patrice Fusillo conducted this interview for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this interview are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Extreme Vehicle Battery Technologies. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Extreme Vehicle Battery Technologies, a company mentioned in this article.

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