LOS ANGELES, May 10, 2022 — Xos, Inc. (NASDAQ: XOS), a leading fleet services provider, today unveiled two new commercial electric vehicles as well as its connected vehicle ecosystem at a reveal event this evening during the inaugural Xos Fleet Week. These new fleet vehicles make Xos the leading provider of battery-electric fleet solutions for commercial fleets. Xos is the only solutions provider to enable electrification from start to finish with durable commercial vehicles, flexible charging infrastructure technology, and a cohesive cloud management platform enabling remote tracking, monitoring, and control of fleet assets across a fleet operator’s portfolio.
The Xos HDXT™ is a Class 8 heavy-duty electric tractor designed for regional-haul fleets and can travel up to 230 miles on a single charge. It offers a powerful 36,583 ft-lbs of torque, the most amount of torque currently offered by a commercial vehicle on the market today, along with a 56,000 lb payload and 798 horsepower. The vehicle’s gross combined vehicle weight (gcwr), the maximum weight of a vehicle and its attached trailer, is 82,000 pounds.
McLane Company, a leading supply chain services and distribution company, has agreed to a pilot program with 10 Xos HDXT™ vehicles to explore environmentally friendly alternatives to its current fleet.
“We’re excited to collaborate with Xos and pilot their heavy-duty vehicles,” said Mark Bachman, Corporate Fleet Manager of McLane. “Xos stood out to us based on their successful track record of implementing innovative mobility solutions for other commercial fleets, so we look forward to exploring how they will help us reduce total cost of ownership while offering increased environmental sustainability.”
The Xos MDXT™ is a Class 6 or 7 medium-duty electric vehicle that can travel up to 270 miles on a single charge. It offers 16,000 fb-lbs max torque and a gross vehicle weight range of 23,000 pounds to 33,000 pounds. The MDXT is available in a variety of body configurations, including a box truck, refrigerated unit, and flatbed.
Republic National Distributing Company, one of the nation’s leading wholesale beverage distributors has already ordered an initial five MDXT vehicles. These will be the first battery-electric fleet vehicles in their fleet, and represent RNDC’s commitment to sustainability.
“We are building the fleet of the future. The new vehicle platforms go farther, last longer, and cost less for all types of fleets,” said Dakota Semler, Chief Executive Officer of Xos. “We will continue to bring innovative fleet solutions to market in an effort to provide customers with safer, more sustainable, and more cost-efficient products.”
According to the U.S. Environmental Protection Agency, the transportation sector is one of the largest contributors to anthropogenic U.S. greenhouse gas (GHG) emissions. Medium- and heavy-duty trucks contribute nearly a quarter of those transport-related emissions. Electrification of these vehicles is critical to reducing those emissions.
“As an organization, we are dedicated to reducing our environmental impact throughout our distribution network and Xos’ MDXT is an excellent zero-emissions vehicle for us because it allows us to efficiently serve the needs of our suppliers, customers, and community,” remarked Steve Feldman, Executive Vice President of Operations at Republic National Distributing Company.
Xos also announced its new software, Xosphere™, a fleet intelligence platform built on top of Xos’ proprietary connected vehicle technology and is purpose-built to minimize the total cost of ownership of an electric fleet.
The platform allows fleet managers to:
- Monitor real-time performance and receive alerts and over-the-air updates to improve their fleet’s efficiency.
- Measure and minimize their fleet’s total energy cost.
- Access service and support at the click of a button.
UniFirst, a North American leader in the supply and servicing of uniform and workwear programs, and an existing Xos customer, is already using the Xosphere software to track the health of its fleet in real-time.
“The cutting-edge fleet management platform that Xos has introduced to the market will not only help us monitor the health of our fleet in real-time, but this solution will also allow us to track our service history and alert us when preventative maintenance is suggested which will optimize our energy usage,” commented Michael Croatti, Executive Vice President of Operations for UniFirst.
“Our new offerings position Xos as a leading end-to-end fleet services provider which is a monumental milestone for us,” said Giordano Sordoni, Xos’ COO and co-founder. “Xos’ approach to scaling and production design allows the company to move with agility and use capital more effectively than traditional OEMs.These trucks are not merely concepts, they are a reality and can be ordered today to advance fleet electrification efforts across the country.”
About Xos, Inc.
Xos is a leading original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles and the tools to adopt them. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of 200 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with zero-emission vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts.
Cautionary Statement Regarding Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Xos’ ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) cost increases and supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iii) changes in the industries in which Xos operates, (iv) changes in laws and regulations affecting Xos’ business, (iv) Xos’ ability to retain key personnel and hire additional personnel, (v) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (vi) the outcome of any legal proceedings that may be instituted against Xos. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on May 9, 2022 and Xos’ other filings with the SEC copies of which may be obtained by visiting Xos’ Investors Relations website at https://investors.xostrucks.com/ or the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Xos does not give any assurance that it will achieve its expectations.
Contacts
Xos Investor Relations
investors@xostrucks.com
Source: GLOBE NEWSWIRE