Welcome to our dedicated page for Xos news (Ticker: XOS), a resource for investors and traders seeking the latest updates and insights on Xos stock.
Xos, Inc. develops fleet electrification products for commercial transportation, including battery-electric trucks, step vans, Class 6 chassis, Class 8 trucks, mobile charging systems, and Powered by Xos powertrain solutions for OEM partners. The company's updates commonly cover product launches, demonstrations at commercial vehicle and energy events, Xos Hub mobile energy storage, charging infrastructure deployments, and integrations that support back-to-base fleets.
Financial news includes quarterly operating results, cash-flow and expense trends, balance-sheet actions, and expansion across vehicles, powertrains, and energy storage. Company announcements also address customer and end-market applications for logistics operators, facilities managers, defense installations, school buses, and other fleet electrification programs.
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.
Xos, Inc. (NASDAQ: XOS) has been honored as the National Winner for the Timmy Awards’ Best Tech for Good, recognizing outstanding workplaces for technology professionals in North America. The award highlights Xos’ commitment to decarbonizing commercial transportation and improving community health. Xos was previously awarded the Regional Winner for Southern California on October 5, advancing to compete nationally where the winners were announced on October 28. This recognition underscores Xos’ mission to provide cost-effective, zero-emission vehicles while promoting environmental sustainability.
Xos, Inc. (NASDAQ: XOS) has appointed Kirk Rasmussen as the new Director of Electrical Engineering. Rasmussen, a veteran with over 30 years of experience in the automotive industry, previously worked with GM and Fisker. His expertise is expected to enhance Xos' electrical engineering function, aiding in the development of fully electric commercial vehicles. The company focuses on decarbonizing commercial trucking fleets, aiming for cost-competitive solutions that exceed traditional vehicles in total cost of ownership.
Xos, Inc. (NASDAQ: XOS) announces an outreach initiative to local trade schools, highlighted by a visit to the Los Angeles Technical Trade College. This visit involved interactions with 20 students from the Advanced Transportation and Manufacturing department, aiming to inspire interest in electric vehicle technology. CEO Dakota Semler emphasized the importance of investing in local talent for the zero-emission transportation industry. The program seeks to develop career paths in electric vehicle services, reinforcing Xos's commitment to decarbonizing commercial trucking fleets.
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Xos, Inc. (NASDAQ: XOS) has been recognized as a Regional Timmy Award Winner in the Best Tech for Good category, highlighting their role in using technology to combat climate change. This award, determined by industry votes, celebrates companies making significant community impacts. Xos specializes in electric commercial vehicles and aims to decarbonize transportation, focusing on reducing diesel emissions. They will compete in the final round for the Timmy Award, with winners announced on October 28th.