KORE Power Signs Multi-Year Supply Agreement with Zero Electric Vehicles, Inc. to Provide Batteries for Fleet Electrification Solutions

Phoenix, Arizona – February 3, 2022 – KORE Power, Inc. (KORE) and Zero Electric Vehicles, Inc. (ZEV) have signed a supply agreement that ensures the availability of KORE’s certified e-mobility battery modules through 2030 to be used in ZEV’s electric powertrain kits.

Under the agreement, KORE will provide more than 100,000 certified VDA modules to ZEV in 2022. That supply is expected to grow to as many as 1 million units by 2025. The agreement specifies that once KORE Power’s Buckeye, Arizona manufacturing facility is operational – expected by late 2023 – cells and modules that use jointly developed thermal management technology will be supplied to ZEV’s Gilbert, Arizona production facility. KORE’s VDA modules are available in six configurations and feature integrated sensors for voltage and temperature monitoring.

“Both KORE Power and ZEV are expecting significant growth as demand ramps up to electrify commercial fleets using ZEV’s proprietary conversion method with KORE cells and VDA modules,” said Lindsay Gorrill, Co-Founder and CEO of KORE Power. “With this agreement in place, we will provide the safety and reliability of our Tier 1 VDA modules to ZEV’s portfolio of solutions, and in doing so, solidify Arizona’s position as a hub of e-mobility solutions.”

KORE is a U.S.-based manufacturer of high-energy-density lithium-ion cells and module configurations for the electric vehicle and energy sector applications. ZEV is a U.S.-based manufacturer of electric powertrain solutions for fleet customers with a commercially available low-cost, fast-turnaround configuration for light-medium duty fleet vehicles.

Carolyn Maury, the CEO of ZEV, said, “KORE offered a strategic Tier 1 battery technology source for advanced thermal control, which enables ZEV to scale and deliver electrification solutions and products to our customers at a highly competitive price.”

“This agreement,” she added, “locks in ZEV’s delivery commitments through this critical transformation in the commercial fleet market. KORE’s VDA cell roadmap meets ZEV’s energy and volumentric density requirements, which allows my team to focus on our mission – eliminating the barriers to EV adoption.”

In September, the two companies announced a partnership agreement to focus on three key challenges facing electric vehicles applications–thermal management, safety, and module and pack configurability towards higher energy and power densities. The joint technology teams continue on this mission and will be introducing new thermally controlled module designs and e-mobility packs in late 2022.

“Central to this supply agreement is that KORE and ZEV will work closely on the development of the next generation of products, which will allow us to advance e-mobility solutions that meet customer needs,” Gorrill said.

KORE deploys its battery cells and modules to a global customer base produced through KORE’s contract manufacturer partner. The new KOREPlex facility will add to the company’s current annual production capacity of 2 GWh to expand to a total annual capacity of 18 GWh to serve the rapidly growing battery market. KORE’s U.S. facility will create new advanced manufacturing jobs in Arizona and strengthen U.S. energy security by creating a new source of domestic battery cell supply.

ZEV is committed to reducing greenhouse gas emissions by eliminating barriers to EV adoption by advancing technologies that reduce EV costs, improve efficiency, and increase reliability. ZEV offers fleet electrification using customizable kits to meet customer range requirements to maximize sustainability goals.

About Zero Electric Vehicles, Inc.

Zero Electric Vehicles (ZEV) is a leader in rapid development and distribution of electrification solutions for commercial fleets. ZEV’s proprietary powertrain kit (batteries anddrive motor) configuration and software enabled vehicle management system delivers rapid conversion turnaround of existing fleet vehicle. ZEV’s partner network provides customers the support infrastructure, bundled with fleet management services, and EV knowledge they need to transform fleets to quickly meet sustainability goals. ZEV’s primary mission is to enable EV participation across the existing automotive and mobility ecosystem and support fleets through their electrification journey while scaling globally using ZEV’s partner ecosystem and open software architecture to make the ‘dream’ of EV accessible to all. For more information, visit www.zeroevcorp.com.

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