Expion360, Inc. (NASDAQ: XPON) specializes in developing premium lithium iron phosphate batteries and related accessories for use in recreational and marine vehicles. The company’s lithium batteries are half the weight of the standard lead-acid battery, and delivers three times the power and 10 times the number of charging cycles. Shares of the lithium battery company are soaring 72% through early trading on Friday, February 10, 2023. Over the past three months, Expion360 has seen average daily volume of 1.69 million shares. However, volume of 36.89 million shares or dollar volume of around $128.38 million, has already exchanged hands through early trading.
Shares of Expion360 are surging after the company announced it has been selected by Cube Series to be the exclusive supplier of lithium-ion batteries for its ultra-lightweight, hard sided foldable camper for light duty trucks. Expion360 will deliver its state-of-the-art 120Ah Li-ion batteries, which provide high-capacity and energy-dense storage for the new camper product.
In addition, Expion360 will supply power system components in a custom package similar to its existing power bundles. This package will include all accessories and components needed for a complete energy system: solar panels, controllers, chargers, inverters, mounts, wires, fuses, and more.
Expion360’s e360 lithium batteries have a 12-year lifespan, which is three-to-four times as long as traditional lead-acid batteries. These batteries will power all of the camper’s electric-powered equipment, such as the refrigerator, microwave, plug-in sockets, USB ports, facilities, ceiling lights, air conditioner and more.
The company began shipping prototypes to Cube Series late last year. Production shipments are estimated to begin going out during the second quarter of 2023.
“We chose Expion360 because our new top-quality camper demands the most energy-dense, compact form factor and best power components available on the market today,” stated Cube Series president Rick Wise. “We anticipate their superior performance batteries and exceptional engineering support will make their batteries a popular upgrade option.”
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