Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) Provides Details on Its ZVS Inverter Technology’s Efficiency Gains; Predicts Cost Savings of up to $700 per Vehicle

  • Hillcrest Energy recently debuted the commercial prototype of its ZVS inverter technology
  • The company revealed that its traction inverter can lead to powertrain efficiency gains of up to 13%; in practice, a gain of 1% could help drive a reduction in battery size by 2%
  • In a recent investor briefing, Hillcrest forecasted that its inverter could help automotive OEM’s reduce material costs by close to $700 per electric vehicle
  • Cost savings have increasingly become a focus of EV OEM’s, with vehicles selling for less than $55,000 eligible for a series of Government grants and rebates under the recently passed Inflation Reduction Act

In 2009, sales of electric vehicles in the United Kingdom touched a grand total of 55 cars (https://ibn.fm/4M9b2). Today, over 20 million EVs may be found on the road in distant corners of the globe, with the count expected to nearly quadruple to 77 million by 2025. The common denominator for these vehicles lays deep within their chassis. At their heart, each of those 77 million electric vehicles will contain a high-voltage battery, by far the vehicle’s most expensive component, and the fundamental driver of a veritable global race by battery manufacturers and automakers alike, to ethically source their materials and crank up production to meet exploding demand.

A recent study carried out by Reuters forecasts automakers will spend upwards of $1.2 trillion in developing and producing EVs through 2030 (https://ibn.fm/fLI1D). A significant proportion of that…

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NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF

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