LOS ANGELES, Aug. 31, 2023 (GLOBE NEWSWIRE) — Xos, Inc. (NASDAQ: XOS), a leading manufacturer of fully electric, zero-emission medium- and heavy-duty commercial vehicles, powertrains, and charging infrastructure, sent the Xos Hub™(“the Hub”) up the West Coast this month to promote its capabilities across multiple use cases.
The Hub is a rapidly deployable, mobile charging solution that enables flexible and scalable access to DC fast charging without the need for permanent infrastructure. Capable of charging up to 5 vehicles at one time and conveniently packaged on a standard trailer, the Hub can be hauled to various locations and extend the range of electric routes, or can be used at facilities which don’t have chargers to quickly deploy electric vehicles and to store energy to avoid peak-time charges.
For the first stop, the Hub spent several weeks with a major parcel delivery company to charge not only Xos 100% battery-electric stepvans but other makes of electric stepvans as well. “This is an excellent example of how we are able to provide charging solutions for existing fleets that are looking for ways to transition from diesel to electric vehicles,” said Dakota Semler, CEO and Co-founder of Xos.
Next, the Hub stopped at SSA Pacific, Inc. in West Sacramento where it successfully charged three E-Bull fork-lifts manufactured by long-term Powered By Xos™ customers, Wiggins Lift Co. “We were thrilled to be able to showcase the capabilities of our mobile charging unit in this setting,” said Semler. “It was a great opportunity for us to demonstrate how our product can meet the needs of many different types of customers.”
Finally, the mobile charging unit made its way to Northern California to charge fully autonomous electric passenger vehicles used for public transportation as well as traditional electric passenger vehicles. “This was a great demonstration of how flexible our product is,” said Semler. “The fact that we could support such a wide range of applications shows just how powerful our technology is.”
The purpose of the demo tour with The Xos Hub was to spark interest among potential customers all with different classes and types of electric vehicles, demonstrating the mobile charging unit’s power and adaptability. Each demo was successful and interoperability was established with each of the vehicle types during the demonstration.
By providing flexible solutions for fleets transitioning from traditional internal combustion engines to fully electric vehicles, Xos is helping decarbonize commercial transportation with ease while facilitating a seamless transition for fleet owners along their journey towards electrification.
About Xos, Inc.
Xos is a leading technology company, fleet services provider, and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. 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 up to 270 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit www.xostrucks.com.
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Cautionary Statement Regarding Forward-Looking Statements
This press release includes “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 include, but are not limited to, statements regarding expectations and timing related to manufacturing quality, production yields, product deployments and launches; sufficiency of existing cash reserves; customer acquisition and order metrics. These forward-looking statements may be identified by the words “believe,” “plan,” “project,” “potential,” “seem,” “seek,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “target,” “opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. 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) Xos’ limited operating history, (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iv) Xos’ ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos’ business, (viii) Xos’ ability to implement its business plan or meet or exceed its financial projections, (ix) Xos’ ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry, (xi) Xos’ ability to service its indebtedness, (xii) macroeconomic and political conditions, and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d06fdc37-eeee-45c4-ad00-8131c7804960
