Struggling electric vehicle (EV) technology firm Exro Technologies is shutting down its business in the United States (US) as it anticipates a delisting review on the Toronto Stock Exchange (TSX).

The decision was made after Exro’s directors consulted with advisors and stakeholders, the Calgary-based company said in a statement. As a result, Exro’s US business, operated through various subsidiaries, is laying off non-essential staff. Exro has not responded to any of BetaKit’s requests for comment in recent weeks.

Exro’s stock price has been sitting at two cents per share, and hasn’t traded much higher than ten cents per share in six months.

The wind-down follows Exro CEO Sue Ozdemir’s resignation from her post last week and her shift to the board of directors after the firm cut 60 emplo

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