LOS ANGELES, Dec. 07, 2021 (GLOBE NEWSWIRE) — Xos, Inc. (NASDAQ: XOS), a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, today announced it has entered a strategic partnership with Austell, Ga.-based Yancey Bros. Co., the nation’s oldest Caterpillar dealer, to distribute Xos vehicles across the state of Georgia.
“We’re thrilled to have found a strong dealership partner in Yancey to bring Xos vehicles to Georgia,” said Jessica Savage, Director of Dealership Development at Xos. “With over a century of experience and operations, Yancey is a widely known and respected dealer in the Southeast and we look forward to partnering together to bring electric vehicles to the region.”
Yancey will leverage its existing infrastructure and facilities, including dedicated truck service centers across the state of Georgia, to help drive the adoption of Xos electric trucks. Yancey currently operates 29 facilities across the state.
“The finalization of this agreement between Yancey and Xos will allow us to deliver new and innovative solutions to our customers that meet the newest transportation emission standards,” said Trey Googe, President and CEO of Yancey Bros. Co. “We are excited to partner with Xos and together lead the way toward environmentally friendly trucking solutions in Georgia.”
About Xos, Inc.
Xos, Inc. is an electric mobility company dedicated to decarbonizing commercial trucking fleets. Xos designs and manufactures cost-competitive, fully electric commercial vehicles. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on last mile, back-to-base routes of less than 200 miles 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 and commercial EV counterparts. For more information, please visit xostrucks.com.
About Yancey Bros. Co.
Headquartered in Austell, Ga., Yancey Bros. Co. is recognized as the nation’s oldest Caterpillar dealer, celebrating its Centennial anniversary in 2014. Family owned and operated for 107 years, Yancey offers Caterpillar, Weiler, and Blue Bird equipment plus many other products, parts and services across the state of Georgia. Our team of committed employees strives to deliver unmatched customer service through 29 facilities in 21 Georgia communities.
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 Xos, Inc.’s (“Xos”) partnership with Yancy Bros Co. and the environmental impact of Xos’ products. 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) Xos’ limited operating history, (iii) cost increases and 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’ inability to implement its business plan or meet or exceed its financial projections (ix) Xos’ ability to retain key personnel and hire additional personnel, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (xi) 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 quarter ended September 30, 2021 filed with the Securities and Exchange Commission (the “SEC”) on November 12, 2021 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
Xos Media Relations
press@xostrucks.com
