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 (XOS) is a leader in electric mobility solutions for commercial fleets, specializing in battery-electric vehicles and energy systems designed for last-mile logistics. This news hub provides investors and industry professionals with official updates and strategic developments directly from the company.
Access timely announcements including quarterly earnings, product launches, and partnerships that demonstrate Xos's commitment to sustainable transportation technology. Our curated collection features press releases, SEC filings, and operational milestones critical for evaluating the company's market position.
Discover updates on proprietary technologies reducing fleet ownership costs and innovations in mobile charging infrastructure. This resource serves as your central reference for tracking Xos's progress in electrifying medium- and heavy-duty commercial vehicles across North America.
Bookmark this page for streamlined access to verified Xos Inc developments. Check regularly for new insights into fleet electrification strategies and industry leadership in sustainable transport solutions.
Xos, Inc. (NASDAQ: XOS) has announced the delivery of their Xos SV Stepvans and comprehensive charging solutions to Morgan Services, a family-owned textile company.
The delivery includes the first set of Class 6 battery-electric stepvans, with additional orders for facilities in Los Angeles and San Diego. Xos also installed nine charging stations at Morgan Services' Los Angeles site, covering everything from design and permitting to physical installation and activation.
CEO Dakota Semler expressed enthusiasm about the partnership, emphasizing the significance of this milestone for both companies in the realm of fleet electrification. This collaboration underscores Xos' commitment to providing turnkey solutions for businesses transitioning to electric vehicles and solidifies its position as a leader in the commercial fleet electrification space.
Blue Bird (Nasdaq: BLBD), a leader in electric and low-emission school buses, will debut an electric-powered step van at the 2024 Advanced Clean Transportation (ACT) Expo from May 20-23, 2024, in Las Vegas. Partnering with Xos (Nasdaq: XOS) and Morgan Olson, Blue Bird aims to expand its zero-emission solutions to the commercial vehicle market. The step van features a 140kWh Lithium-ion battery offering a range of up to 130 miles and various safety features such as 'hill hold' and 'electric creep.' Blue Bird's stripped chassis provides a 55-degree wheel cut for better maneuverability in urban settings. The company anticipates commercial availability of the stripped chassis by late 2024.
Xos, a leading electric truck manufacturer, reported a significant financial turnaround in Q1 2024, with a 180% year-over-year revenue growth to $13.2 million and industry-leading gross margins of 21.2%. The company completed the acquisition of ElectraMeccanica, boosting its cash position by approximately $50.2 million. Xos delivered 62 units in the quarter and launched the updated Xos Hub mobile charging solution. Despite the progress, Xos still reported a net loss of $11 million, which is an improvement compared to the $24.3 million net loss in the same period last year. The outlook for 2024 includes expected revenue between $66.7 million and $100.4 million, and unit deliveries ranging from 400 to 600 units.
Xos, Inc. has received approval from CARB for their 2024 Xos SV Battery Electric Stepvan to be listed on the HVIP catalog, offering a base incentive of $85,000 per vehicle. This presents a significant opportunity for Xos to provide cost-effective electrification solutions and reduce upfront costs for customers. The HVIP approval underscores Xos's commitment to making electrification more affordable and breaking barriers for businesses transitioning to electric fleets.
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