New Smart LiFePO4 Battery Leads Rollout of Expion360's New Bluetooth-Enabled Wireless Management Platform
REDMOND, OR / ACCESSWIRE / June 14, 2023 / Expion360 Inc. (NASDAQ:XPON), an industry leader in lithium-ion battery power storage solutions, has introduced a new e360 SmartTalk™ Battery for powering electric golf carts and other light electric vehicles (LEVs).
The 48 Volt GC2 lithium iron phosphate (LiFePO4) battery was engineered to set a new standard for LEVs, combining intelligent wireless mobile management capabilities and outstanding capacity with superior construction and durability.
"Our exclusive e360 SmartTalk battery represents our first foray into both the smart battery market and light electric vehicle market," stated Expion360 CEO Brian Schaffner. "We believe the ability to wirelessly monitor performance and view valuable analytics on virtually any Bluetooth-enabled mobile device will prove tremendously useful for LEV operators, especially those managing multiple vehicles."
The new product addresses the growing market for golf cart batteries that is forecast to grow at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2031 to reach $216.5 million by 2031, according to Allied Market Research. The lithium battery segment for golf carts represents only about two-fifths of the global golf cart battery market by revenue in 2021, but is expected to dominate the market by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
The new battery solution also addresses the light electric vehicle market that is projected to grow at 9.4% CAGR from $78.5 billion in 2022 to $122.7 billion by 2027, according to ReportLinker.
"As our first Bluetooth enabled battery, we see this as just the beginning of an expanding line of e360 SmartTalk-ready batteries that we expect will be in high demand for both existing and future product applications," added Schaffner. "We anticipate the superior customer experience provided by these solutions will broaden our markets and advance our competitive edge."
The new battery solution also addresses the light electric vehicle market that is projected to grow at 9.4% CAGR from $78.5 billion in 2022 to $122.7 billion by 2027, according to ReportLinker.
"As our first Bluetooth enabled battery, we see this as just the beginning of an expanding line of e360 SmartTalk-ready batteries that we expect will be in high demand for both existing and future product applications," added Schaffner. "We anticipate the superior customer experience provided by these solutions will broaden our markets and advance our competitive edge."
Key features and benefits of the e360 SmartTalk battery solution include:
- e360 SmartTalk: The battery's fully integrated e360 SmartTalk Bluetooth technology enables golf cart operators to wirelessly monitor individual and multiple battery bank performance, and receive real-time status updates and alerts through the e360 SmartTalk mobile app.
- Controller Area Network (CAN Bus) Communication: CAN Bus capabilities ensure seamless integration with golf cart systems, facilitating efficient and reliable communication between the battery and the cart.
- Oversized Solid Brass Terminals: Expion360's signature oversized solid brass battery terminals ensure a secure and dependable connection, optimizing conductivity and reducing electrical resistance. These special e360 terminals provide golf cart operators with the peace of mind that their battery is delivering maximum performance over time.
- Fiberglass ABS Case: The battery features a robust fiberglass-infused ABS case designed for exceptional protection and durability. The rugged construction is designed to withstand the rigors of golf cart usage, helping to ensure longevity and reliability under various weather conditions.
- Exceptional Lifespan, Weight, Power and Capacity: Since the batteries utilize premium LiFePO4 materials, they can have a lifespan of 12 years or three to four times that of most lead-acid batteries.
In addition to existing LEV owners, Expion360 is also targeting LEV, RV, RV overland, and marine OEMs that need a 48v battery solution. The new battery is also being offered in conversion kits to the after-market replacing lead acid batteries which have numerous drawbacks, both environmental and with performance. Despite being half the weight, e360 batteries provide three times the power and 10 times the number of charging cycles compared to standard lead-acid batteries.
Engineered with Expion360 Extreme Density 4.0 Ah UL1642 (file no. MH64383) stainless steel encased 26650 cylindrical LiFePO4 cells helps ensure superior durability, reliability, and longevity.
The new battery offers an impressive capacity of 36 Ah (1843.2 Wh), providing long-lasting power that maximizes operating time on the course or around the campus.
The new e360 SmartTalk golf cart battery is available now for pre-order, with initial shipments planned for the third quarter of 2023.
The company has applied for a U.S. patent related to the design of the new battery.
Expion360's original lineup of Li-ion batteries are available today through more than 213 dealers, wholesalers, private-label customers, and OEMs nationwide. To locate your local Expion360 dealer or purchase Expion360 batteries and accessories online, go to expion360.com.
About Expion360
Expion360 is an industry leader of premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications,with residential and industrial applications under development.
The company's lithium batteries feature half the weight of standard lead-acid batteries while delivering three times the power and 10 times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other Li-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The company is headquartered in Redmond, Oregon. Expion360 Li-ion batteries are available today through more than 213 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the company, visit expion360.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Examples of such forward-looking statements include statements regarding our expectations regarding our business strategies and plans, growth opportunities and competitive position, our expectations that the ability to wirelessly monitor performance and view valuable analytics on virtually any Bluetooth-enabled mobile device through our e360 SmartTalk Battery will prove tremendously useful for LEV operators, the expected growth in the golf cart battery market and its related revenues, the expected growth in the LEV market, our expectation that we will have an expanding line of e360 SmartTalk batteries, our expectations regarding the high demand of our e360 SmartTalk Battery and our future line of e360 SmartTalk batteries as well as the ability of these products to broaden our addressable markets and competitive edge. Our expectations are that our e360 SmartTalk Battery will start shipping in the third quarter for 2023 and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate," or similar expressions. Because forward-looking statements relate to the future, such forward-looking statements involve significant risks, uncertainties, and assumptions that are difficult to predict and many of which are outside our control. Actual results could differ materially from those indicated in the forward-looking statements. Factors that could cause such differences include, among others, the competitive nature of our industry and the pricing pressures that we face, our history of losses and increasing costs, our ability to continue as a going concern, our dependency on the needs and success of our customers and our substantial customer concentration, any inability to successfully manage our growth, the impact of public health epidemics or outbreaks, our ability to expand our sales and distribution channels, our ability to expand into international markets, the limited number of ports through which our raw materials enter the United Sates and our reliance on third parties to store and ship certain inventory, uncertainty in the global economic condition, any government reviews, inquiries, investigations and other actions, changes in the cost and availability of raw materials, our dependency on third-party manufacturers and suppliers and increases in the cost or disruption of supply or shortages in any of our raw materials, battery components or raw materials used in the production of such parts, our dependency on our two warehouse facilities, the risk that lithium-ion battery cells may catch fire or release smoke and flame, potential product liability claims, risks related to litigation, tax, environmental and other legal compliance, any failure to introduce new products and product enhancements and market acceptance of new technologies introduced by our competitors, any failure by us to adequately protect our intellectual property or to defend ourselves against intellectual property infringement claims, quality problems with our products, our ability to raise capital, risks related to our electronic data becoming compromised, our dependency on our senior management team and other key employees, any failure to keep pace with developments in technology and those discussed in our filings with the SEC. Investors should read the risk factors set forth in the Company's previous filings, subsequent filings, and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that forward-looking statements are not historical facts and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether as a result of new information, future events or otherwise, except as required by law.
Expion360 Contact:
Brian Schaffner, CEO
Tel (541) 797-6714
Expion360 Investor Contact:
Ronald Both
CMA Investor Relations
Tel (949) 432-7566
Email contact
Expion360 Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email contact
SOURCE: Expion360 Inc.