Xos, Inc. has completed its business combination with NextGen Acquisition Corporation, becoming a public company. Trading under the ticker symbol 'XOS' on Nasdaq starts August 20, 2021, following shareholder approval on August 18, 2021. Xos specializes in fully electric commercial vehicles, targeting a $100 billion market with a 6,000-unit backlog of orders. The company emphasizes sustainability, offering vehicles that reduce total cost of ownership. BofA Securities and Goldman Sachs advised on the transaction, which positions Xos for strong growth amidst rising demand for electric vehicles.
NextGen Acquisition Corp. (NASDAQ: NGAC) announced stockholder approval for its business combination with Xos, Inc., a manufacturer of electric commercial vehicles. The merger closing is anticipated on August 19, 2021, with shares trading under the new ticker 'XOS' starting August 20. This strategic merger aims to enhance electric fleet efficiency and broaden market presence, leveraging Xos's proprietary technologies for zero-emission vehicles, which could offer substantial cost benefits over traditional vehicles.
Summary not available.
Xos, Inc., a manufacturer of electric commercial vehicles, announced a business combination with NextGen Acquisition Corporation (NASDAQ: NGAC). The company unveiled Xos Hub™, a mobile charging station designed for fleet customers, allowing for easier access to charging without traditional infrastructure delays. This initiative falls under Xos Energy Solutions, which aims to support electric vehicle adoption through services like Xos Serve. The general meeting for NextGen shareholders to approve the deal is scheduled for August 18, 2021.
Xos, Inc. has announced a significant partnership with FedEx Ground operators to deliver 120 zero-emission electric trucks across various states, including California, New York, New Jersey, Massachusetts, and Texas. The delivery is scheduled for Q4 2021 and into 2022, with discussions ongoing for further orders. This collaboration not only validates Xos' business model but also demonstrates its commitment to sustainability and the electrification of commercial fleets. Additionally, NextGen Acquisition Corporation (NASDAQ: NGAC) has scheduled a shareholder meeting on August 18, 2021, to discuss its proposed business combination with Xos.
Xos, a manufacturer of fully electric commercial vehicles, announced successful durability testing of its stepvan at a facility in Indiana. This testing, simulating 200,000 miles of real-world driving, is crucial for operational validation and customer evaluation of their electric fleet. Xos plans to complete its business combination with NextGen Acquisition Corporation (NASDAQ: NGAC) in Q3 2021, aiming to enhance the durability and performance of its vehicles. This achievement supports Xos's commitment to delivering reliable electric vehicles and advancing fleet electrification.
Summary not available.
NextGen Acquisition Corporation (NASDAQ:NGAC) announced that its Registration Statement on Form S-4 regarding its business combination with Xos, Inc., a manufacturer of fully electric commercial vehicles, has been declared effective by the SEC. A special meeting of stockholders is scheduled for August 18, 2021, to approve the deal. Both boards unanimously back the merger, aiming to propel Xos toward a zero-emissions future. This merger intends to enhance Xos's market presence, enabling broader access to electric vehicles.
Xos, a manufacturer of fully electric commercial vehicles, announced the hiring of Justin Yee as Director of Advanced Vehicle Engineering and Mathew Freiheit as Chief Engineer. Both leaders bring over 40 years of experience, enhancing Xos’ engineering capabilities as it progresses with its Class 8 technology. These appointments are part of Xos' strategy to expand its workforce and drive innovation in the electric vehicle sector. Xos aims to deliver lower operating costs for electric commercial vehicles compared to traditional models.
Xos, Inc. and NextGen Acquisition Corporation (NASDAQ:NGAC) announced nominees for the board of directors of their upcoming merged entity, New Xos. The new board will comprise industry veterans with vast strategic and operational expertise, expected to guide the company's growth post-merger, slated for August 2021, pending shareholder approval. New Xos will retain the Xos name, trading under the ticker "XOS." Notable nominees include Burt Jordan from Ford and Sara Mathew from Dun & Bradstreet, emphasizing strong leadership to support Xos's mission of decarbonizing transportation.