Xos Inc Stock Price, News & Analysis

Xos, Inc. (NASDAQ: XOS) has partnered with Merchants Fleet to supply electric step vans, advancing Merchants’ goal of 50% fleet electrification by 2025. The partnership is part of Merchants' $2B commitment to electrifying their fleet, which includes plans to purchase over 40,000 electric vehicles. The first 10 Xos electric step vans are set for delivery in 2022, facilitating last mile deliveries across North America. This collaboration not only underscores the shift towards electric mobility but also highlights Xos' role in meeting market demand for sustainable logistics solutions.

Xos, Inc. (NASDAQ: XOS) announces a significant partnership with Merchants Fleet, aiming to electrify their fleet. Merchants plans to purchase over 40,000 electric vehicles, moving towards 50% electrification of its mobility fleet by 2025 and its managed fleet by 2030. The first 10 Xos electric step vans are set for delivery in 2022, enhancing options for last-mile delivery clients. Merchants has committed over $2 billion towards fleet electrification and is keen on providing sustainable logistics solutions.

Xos, Inc. (NASDAQ: XOS) has partnered with Yancey Bros. Co., the oldest Caterpillar dealer in the U.S., to distribute its fully electric commercial vehicles in Georgia. This collaboration will utilize Yancey’s 29 facilities in the state to promote electric vehicle adoption, aligning with new transportation emission standards. Xos focuses on providing zero-emission vehicles aimed at decarbonizing commercial fleets, particularly for routes under 200 miles. This partnership is a strategic move to enhance Xos's market presence in the Southeast.

Xos, Inc. (NASDAQ: XOS) has received a significant order for 40 electric vehicles from Route Consultant, establishing Route Consultant as one of the largest EV owners among FedEx Ground contractors. The vehicles, scheduled for delivery in 2022, will be deployed in Springfield, St. Louis, and Terre Haute. This multi-million dollar investment highlights Route Consultant's commitment to zero-emission technology, facilitated by Xos’ infrastructure services. Both companies aim to enhance the adoption of electric vehicles within the FedEx network, marking a pivotal step in sustainable logistics.

ABC Technologies Holdings Inc. (TSX: ABCT) has announced changes to its board of directors ahead of the annual general meeting on December 15, 2021. Following a recent transaction involving the sale of a minority stake from ABC Group Canada LP to Oaktree Capital Management, new nominees from Oaktree will replace the previous nominees related to ABC LP. The newly appointed board members are Mel Carlisle, Patrick C. George, and Burt Jordan, effective November 11, 2021. Management intends to vote in favor of these new nominees at the upcoming meeting.

Xos, Inc. (NASDAQ: XOS) has partnered with the Los Angeles Mission to deliver 10,000 meals to families facing food insecurity in Los Angeles. This initiative is part of the Mission's Race to Feed program, aimed at addressing rising food prices and insecurity impacting nearly 1 million residents in the area. The deliveries, using Xos' fully electric vehicles, will occur on November 19 and 21 at five distribution sites. This partnership marks the launch of the Xos Community Action Program, emphasizing the company’s commitment to community engagement and clean energy solutions.

Xos, Inc. (NASDAQ: XOS) reported its third-quarter 2021 results, posting revenues of $357,000 and a net income of $34.9 million, despite an operating loss of $14.3 million. The company delivered three vehicles in Q3 and 12 for the year so far. Cash and cash equivalents stood at $207.4 million. Increased investments in R&D contributed to a diluted loss per share of $0.08. Xos completed its merger with NextGen, securing over $200 million in growth capital. The company anticipates 15-25 unit deliveries and $1.7-$3 million in revenue for Q4 2021.

Xos, Inc. has announced its new Lyra Series™ of battery systems, featuring significant enhancements in energy density and performance. The Lyra 30™ and Lyra 60™ models, set for customer deliveries in Q4 2021, boast a 52% increase in gravimetric energy density and a 45% increase in volumetric energy density. Designed specifically for the commercial trucking market, these systems can be integrated with existing vehicles on Xos' modular chassis. The company's emphasis on in-house design and manufacturing aims to streamline operations and address supply chain challenges.

Xos, Inc. (NASDAQ: XOS) will announce its third-quarter financial results on November 11, 2021. The company specializes in electric commercial vehicles and aims to decarbonize trucking fleets. A conference call and webcast will occur at 5:00 p.m. Eastern Time, with management discussing the financial results followed by a Q&A session. The replay will be available post-call until November 27, 2021.