Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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The latest JV proposal with Indian manufacturer EVage is of course very exciting however I have a sneaky suspicion that our first order could come a lot sooner than we think from global leaders Cummins- Meritor.
DGI has been working with Meritor for many years developing the 400kw Pareta drive train for their extensive customer base. I’m not sure the reasons why they have not named them in the recent Joint Development agreement RNS dated 29th Jan 2024 however I can assure you 100% that the mystery tier 1 global leader is Cummins in the US. Here is an extract from a commercial update on the 30th August 2022 that confirms the alliance.
“The Pareta© High Efficiency Parallel Motor for Automotive Application project, being undertaken by a consortium including the Company and Meritor Electric Powertrain Systems UK Ltd (a subsidiary of US-headquartered global commercial vehicle components company, Meritor Inc), is therefore progressing positively in line with its targeted key milestones for new product development”
And here are a couple of other extracts from a RNS just over 2 years ago :-
The 400kW Pareta© integrated E-drive is being developed in collaboration with a tier 1 supplier to the commercial vehicle industry (the "Customer"), with whom the Company has a good and evolving relationship. The 400kW Pareta© drive specification was defined by the Customer to target its growing E-drive needs.
“We are delighted to be able to announce our new electric drive suitable for the heavy goods vehicle sector, together with many other potential applications. The 400kW Pareta© E-drive has been defined to match the requirements of a key customer of the Company, who has a significant global position in the heavy vehicle transmission sector, and we look forward to continuing to work with them to bring this technology to the market”
Anyway moving on to my point.
In most recent RNS it states that will see prototypes produced in H1 2024, followed by on vehicle trials in H2 2024.
I personally think that because Cummins is very likely aware of DGI ‘s new alliance with EVage they will be eager to move this forward as quickly as possible. Obviously plans will need to be made regarding the manufacturing however we could see an order in principle from them sooner than we think.
StayLong
Thx for this post StayLong.
Obviously the tier 1 supplier is Cummins- Meritor, perhaps Cummins for the moment are wishing to keep this under the radar.
If you are right and we do receive some kind of order from them this will completely transform DGI from just a R &D company to a commercial company and this will in turn attract huge investment from the big institutions.
The current market cap is totally ridiculous at the moment however as soon as we receive an order the SP will dramatically re rate.
StayLong, sounds like a reasonable and logical suggestion. It’s interesting the JV with the tier 1 hasn’t been formally exposed but I hope it is Meritor.
Stay long 400kw is 536 horse power and we know it has a massive torque 2000lb or more so would suit a heavy goods vehicle, and be more powerful than there latest diesel engine,we also know they had a 1200 hp and 4,400ft/lb drive at 800volts so again not for a car i would guess,, maybe its undergoing long term wear tests before changing there intire fleet over to ev only,a big step ,and only after enough charging stations are available as these would be equally massive at truck stops/ dedicated charging lorry parks. downtime on a commercial vehicle wouldnt work or be viable for any business on a low % of profit for deliveries,look what amazon pay there drivers,its all about the number of deliveries in a shift to earn enough to live. the tier 1 sales agreement would rocket this back up,im sure the tesla guys will negotiate a deal for multi licensing of the drive system, evage doesnt have exclusivity for parenta.
Good post StayLong, there is no way that Cummins/Meritor will be hanging around on this. They have a massive on tap market to sell to.
When you consider that Cummins turned over $33 billion dollars last year, it gives you a very good idea of the calibre of interested companies wanting in on this world class tech.
I have a sneaky feeling that Tesla/Musk will be getting interested at some point very soon?
All sounds entirely plausible Staylong...
Exciting times ahead 🤞
So why on earth are people selling?!
Because the Boughtwood issue has not been resolved. Selling will continue until it has.