SolarEdge Selected as Supplier for Fiat E-Ducato, Issues Financial Outcomes

Feb 17, 2021 11:52 AM ET
  • SolarEdge has revealed it has been chosen to supply powertrain as well as batteries for the Fiat E-Ducato, likewise reporting its economic results.
SolarEdge Selected as Supplier for Fiat E-Ducato, Issues Financial Outcomes

SolarEdge Technologies has introduced that the Company has been picked and will begin to provide complete electric powertrain devices as well as batteries for the manufacturing of the Fiat E-Ducato light commercial electric vehicle.

" We are excited to be a part of this significant minute for Stellantis as they present an electrical version of the incredibly popular Fiat E-Ducato light commercial vehicle to the European market. In combining our complete electrical powertrains with Stellantis' knowledge, we have the ability to use the market a best-in-class LCV e-mobility solution that reacts to the demands of business customers as well as aids fulfill city centers' carbon-neutral goals," stated SolarEdge Ceo, Zivi Lando.

" We are honored to have actually been qualified as a rate 1 supplier of Stellantis and also the single provider of full electrical powertrain units as well as batteries for the very first production collection of these vehicles."

SolarEdge e-Mobility division is based on a purchase made by SolarEdge in January 2019. The e-Mobility department develops end-to-end options for electric and hybrid vehicles, including innovative high-performing powertrains and software program for electric vehicles. The purchase has actually brought technological synergies to both business and becomes part of the Company's implementation strategy to expand its product supplying beyond solar at a time when the world is going through a clean power improvement and e-mobility transformation.

The company has actually also introduced its financial outcomes for the fourth quarter and also year ended December 31, 2020.

Complete Year 2020 Emphasizes:

  • Videotape incomes of USD 1.46 billion
  • Record revenues from solar products of USD 1.36 billion
  • GAAP gross margin of 31.6 percent
  • GAAP gross margin from the sale of solar items of 34.3 percent
  • 6.1 Gigawatts (AC) of inverters shipped

" Our fourth-quarter results are reflective of strength in the United States property market and record revenues from beyond Europe as well as the U.S., led by Australia," said Lando. "The return to development in installments in the United States property market drove our sequential growth as well as return to the expected solar margins. Despite the worldwide pandemic, we wrapped up the year with slight development in profits, healthy and balanced money generation as well as are well-positioned for 2021 and past, having actually invested significantly in the growth of brand-new items to be launched this year in addition to the development of our non-solar businesses, with readiness to provide full powertrain kits for the e-Mobility field in Europe."

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