Xos secures 150-vehicle purchase order from return customer Loomis
Xos, Inc. (NASDAQ: XOS) has announced a purchase order with Loomis for 150 additional armored electric vehicles (EVs) in the U.S. market.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Xos, Inc. (NASDAQ: XOS) has announced a purchase order with Loomis for 150 additional armored electric vehicles (EVs) in the U.S. market. Loomis currently operates 20 armored EVs from Xos. Since 2019, Loomis has integrated armored electric vehicles to reduce fleet emissions, aligning with its commitment to sustainability. This order marks a significant step in decreasing dependency on fossil fuels.
Both companies emphasize the importance of reliable and durable vehicles for cash-in-transit operations, showcasing their dedication to innovative solutions that enhance operational efficiency while minimizing environmental impact.
Positive
- Loomis has ordered 150 additional armored electric vehicles from Xos, increasing their fleet significantly.
- The partnership highlights the reliability and durability of Xos vehicles in cash-in-transit operations.
Negative
- None.
Details
News Market Reaction – XOS
The recorded move for XOS in the trading session of this news was +2.78%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LOS ANGELES, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS) and Loomis have signed a purchase order for 150 additional armored electric vehicles in the U.S. market. Currently, Loomis operates 20 armored electric vehicles from Xos.
Loomis has been implementing armored electric vehicles in its fleet operations since 2019 when its first armored EVs manufactured by Xos were deployed. Loomis’ largest climate impact comes from transportation and the company is therefore committed to reducing its fleet emissions. This order for additional EVs in the US is an important step to reduce the dependency on fossil fuels.
“We have made a commitment to reduce carbon emissions from our business and have set out to lead the transformation in the industry. By significantly increasing the number of EVs in U.S. operations, we are on our way to both reducing our own emissions and helping our customers reach their targets while maintaining our high security standards,” said Aritz Larrea, President and CEO of Loomis AB. “We are proud that our collaboration with Xos puts us at the forefront. We will continue to partner with suppliers to find innovative solutions to reduce our carbon footprint while ensuring the safety of our employees and customers.”
“Working with the industry-leading Loomis team for the last four years has been a pivotal highlight in our mission to help all fleets make the move to battery-electric operations,” said Dakota Semler, Chief Executive Officer at Xos. “This continued partnership is a testament to the reliability and durability of our vehicles and their ability to achieve the high-performance parameters required for cash-in-transit operations.”
In addition to vehicles, Xos has provided Loomis with charging infrastructure and services that allow a seamless integration into Loomis’s overall business operation. Learn more about Xos’s partnership with Loomis in this video: https://www.youtube.com/watch?v=wfpd3U0V6sM
About Xos, Inc.
Xos is a leading fleet services provider and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of up to 270 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. 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/83e244c0-b832-4787-9bff-3f4e85ff432e
A video accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/51a7f044-5643-4a42-81f9-bdc1d22f8346
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.