Xos Breaks the $100K Barrier for High-Powered Mobile Charging with New Hub Approved for $110,000 CORE Incentive

Rhea-AI Summary

Xos (NASDAQ: XOS) announced that its latest mobile charging unit, the Xos Hub™, has been approved for a $110,000 incentive through California's Clean Off-Road Equipment (CORE) Voucher Incentive Project. This breakthrough brings the unit's cost below $100,000, less than half the price of comparable DC fast charging systems.

The Xos Hub features 282 kWh of onboard energy storage and four integrated DC fast chargers, offering a portable charging solution without requiring permanent infrastructure. Major companies including Caltrans, Duke Energy, and Xcel Energy are already utilizing the technology. The system has proven effective in various environments including seaports, airports, construction zones, and logistics facilities.

Positive

• Unit cost reduced to under $100,000, less than half the price of comparable systems
• Secured $110,000 CORE incentive approval, improving affordability
• No permanent infrastructure or utility upgrades required for deployment
• Already adopted by major fleet operators and utilities

Negative

• None.

News Market Reaction

-4.29%

5 alerts

-4.29% News Effect

-3.2% Trough in 1 hr 50 min

-$1M Valuation Impact

$28M Market Cap

0.1x Rel. Volume

On the day this news was published, XOS declined 4.29%, reflecting a moderate negative market reaction. Argus tracked a trough of -3.2% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $1M from the company's valuation, bringing the market cap to $28M at that time.

Data tracked by StockTitan Argus on the day of publication.

LOS ANGELES, Aug. 18, 2025 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS) announced today that the newest version of its mobile charging unit, the Xos Hub™, has been approved for California’s Clean Off-Road Equipment (CORE) Voucher Incentive Project, making it eligible for a $110,000 incentive. This groundbreaking approval means the Xos Hub is now available for under $100,000, less than half the cost of many equivalent DC fast charging systems, which often exceed $200,000. The result is a major leap forward in reducing both capital and operational expenses for fleets transitioning to electric vehicles.

With 282 kWh of onboard energy storage and four integrated DC fast chargers, the Xos Hub delivers a powerful, flexible, and transportable charging solution. It can be rapidly deployed without the need for permanent infrastructure or costly utility upgrades, making it an ideal fit for fleets that need charging in multiple or remote locations, or at sites with limited grid power.

Some of the nation’s largest fleets and utilities including Caltrans, Duke Energy, Xcel Energy, TECO Energy, and Highland Fleets are already benefiting from the Xos Hub’s ability to enable clean, reliable, and cost-effective charging wherever it is needed.

“Securing CORE approval for our most advanced Hub yet is a major milestone in our mission to accelerate fleet electrification,” said Aldan Shank, Director of Mobile Charging. “By getting the cost below $100,000 per unit, we’ve made high-capacity, fast charging easier to deploy than ever before. This changes the economics for off-road fleet operators and removes many of the common obstacles to fleet electrification and charging.”

The Xos Hub has already proven its versatility in a range of demanding off-highway environments, including:

• Seaports, where it powers heavy-duty electric forklifts in container handling and cargo operations
• Airports, supporting electric aircraft and ground support equipment
• Construction zones and remote utility worksites, enabling electric construction machinery to operate without relying on fossil fuel generators
• Retail and logistics facilities, charging electric yard hostlers and material handling equipment

The CORE program, administered by the California Air Resources Board (CARB), provides point-of-sale discounts to encourage adoption of zero-emission off-road technologies. The program requires no scrappage and offers additional funding for deployments in disadvantaged communities and for small business purchasers.

The Xos Hub is ideal for temporary or transportable charging applications such as depots without existing infrastructure, event-based operations, or remote job sites. By combining high-capacity energy storage with rapid charging capability, it helps bridge the infrastructure gap and enables fleets to transition to EVs faster, more affordably, and with fewer operational disruptions.

About Xos, Inc.
Xos is a leading technology company and manufacturer of Class 5 and 6 battery electric commercial vehicles, powertrains, and advanced charging equipment. In addition to its purpose-built trucks, Xos provides fleet operators with a full suite of charging and software solutions to support the transition to electric. Xos products are designed for last-mile, back-to-base routes of up to 250 miles per day, offering a lower total cost of ownership compared to internal combustion engine vehicles. For more information, visit www.xostrucks.com.

Xos Contacts
Xos Investor Relations

investors@xostrucks.com

Xos Media Relations

press@xostrucks.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bccaad39-c087-44a4-8d08-dfcd04e3f537

FAQ

What is the cost of the new Xos Hub after CORE incentives?

The new Xos Hub is available for under $100,000 after receiving the $110,000 CORE incentive, making it less than half the cost of equivalent DC fast charging systems.

What are the key specifications of the Xos Hub mobile charging unit?

The Xos Hub features 282 kWh of onboard energy storage and four integrated DC fast chargers, providing portable charging capabilities without requiring permanent infrastructure.

Which major companies are currently using the Xos Hub?

Major companies using the Xos Hub include Caltrans, Duke Energy, Xcel Energy, TECO Energy, and Highland Fleets.

Where can the Xos Hub mobile charging unit be deployed?

The Xos Hub can be deployed in various environments including seaports, airports, construction zones, remote utility worksites, and retail and logistics facilities.

What are the advantages of the Xos Hub for fleet operators?

The Xos Hub offers flexible deployment without permanent infrastructure, reduced capital costs, and the ability to provide charging in multiple or remote locations without utility upgrades.