Company Adds World’s Fourth-Largest Automotive
Manufacturer Stellantis as its Fourth OEM Partner Platform
Vehicle to Debut at the Advanced Clean
Transportation (ACT) Expo Event August 31 – September 1 in Long
Beach, CA
XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a
leader in vehicle electrification solutions for commercial and
municipal fleets, today announced it is now offering its hybrid
electric drive system for Ram 2500 and 3500 heavy duty pickup
trucks. The XLH™ system represents the Company’s first
electrification product to be available for Ram Commercial,
Stellantis’ (NYSE: STLA) line of commercial pickup trucks.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210826005235/en/
XL Fleet's hybrid electric drive system
is now available for Ram 2500 and 3500 Heavy Duty pickup trucks
(Photo: Business Wire)
XL Fleet’s newest product represents the fourth OEM platform on
which its electrification systems are compatible, which also
includes hybrid and plug-in hybrid electric drive solutions for
Ford, General Motors and Isuzu fleet vehicles. With the Ram 2500
and 3500 heavy duty pickup models added to its hybrid product line,
XL Fleet now electrifies four of the U.S.’s top-selling pickup
brands, including Ford F-series, Chevrolet Silverado, Ram and GMC
Sierra trucks.
With the addition of Stellantis, the world’s fourth largest
automaker, and its popular Ram truck and commercial lineup to its
roster of OEM partners, XL Fleet continues to diversify its product
portfolio to meet a broader range of vehicles, applications and
specifications for its fleet customers. Ram pickups are renowned
among fleets for their exceptional towing capability, comfort and
luxury design, and can now realize significant fuel economy
improvements and CO2 emissions reductions with an XL Hybrid
electric drive system installed.
“Adding a global leader like Stellantis to our network of OEM
partners represents a great milestone for XL Fleet, and provides
another world-class platform to our product portfolio for
customers,” said Dimitri Kazarinoff, Chief Executive Officer of XL
Fleet. “The Ram Commercial line of pickup trucks generates
significant demand in the fleet industry, and this platform opens
attractive new opportunities for our current customers and
prospects to electrify their fleet. We continue to execute on our
strategy of building the broadest and most diverse network of fleet
electrification solutions on the market, while helping customers to
immediately move forward on meeting their sustainability
goals.”
The XLH hybrid electric drive system is now available for select
Ram 2500 / 3500 models with the 6.4L V8 engine and a wide range of
wheelbases, cab configurations and drivelines. The XLH system
features a high-efficiency lithium-ion battery, inverter and
electric traction motor, which helps to propel the vehicle forward
during acceleration and captures energy through regenerative
braking during deceleration.
As with the rest of the XLH hybrid electric upfit applications,
the system requires no external power or charging infrastructure to
operate, and all OEM factory warranties remain intact. The XLH
system includes XL Fleet’s standard 3-year, 75,000-mile warranty,
with extended warranty options available. The systems are also
currently available on a wide variety of Class 2-6 vehicles from
Ford, Chevrolet, GMC, and Isuzu.
XL Fleet will be displaying an XLH hybrid-equipped Ram 2500 in
its booth (#1211) during the Advanced Clean Transportation (ACT)
Expo event August 31 – September 1 in Long Beach, CA. For more
information on XL Fleet’s full suite of electrification solutions,
visit www.xlfleet.com or contact sales@xlfleet.com.
About XL Fleet Corp.
XL Fleet is a leading provider of vehicle electrification
solutions for commercial and municipal fleets in North America,
with more than 150 million miles driven by customers such as The
Coca-Cola Company, Verizon, Yale University and the City of Boston.
XL Fleet’s hybrid and plug-in hybrid electric drive systems can
increase fuel economy up to 25-50 percent and reduce carbon dioxide
emissions up to 20-33 percent, decreasing operating costs and
meeting sustainability goals while enhancing fleet operations. XL
Fleet’s plug-in hybrid electric drive system was named one of TIME
magazine's best inventions of 2019. For additional information,
please visit www.xlfleet.com.
About Stellantis
Stellantis is one of the world’s leading automakers and a
mobility provider, guided by a clear vision: to offer freedom of
movement with distinctive, affordable and reliable mobility
solutions. In addition to the Group’s rich heritage and broad
geographic presence, its greatest strengths lie in its sustainable
performance, depth of experience and the wide-ranging talents of
employees working around the globe. Stellantis will leverage its
broad and iconic brand portfolio, which was founded by visionaries
who infused the marques with passion and a competitive spirit that
speaks to employees and customers alike. Stellantis aspires to
become the greatest, not the biggest while creating added value for
all stakeholders as well as the communities in which it
operates.
Forward Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect,” “should,” “would,”
“plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of management and are not predictions of actual performance.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements, including but not limited to;
the effects of pending and future legislation; the highly
competitive nature of the Company’s business and the commercial
vehicle electrification market; litigation, complaints, product
liability claims and/or adverse publicity; cost increases or
shortages in the components or chassis necessary to support the
Company’s products and services; the introduction of new
technologies; the impact of the COVID-19 pandemic on the Company’s
business, results of operations, financial condition, regulatory
compliance and customer experience; the potential loss of certain
significant customers; privacy and data protection laws, privacy or
data breaches, or the loss of data; general economic, financial,
legal, political and business conditions and changes in domestic
and foreign markets; the inability to convert its sales opportunity
pipeline into binding orders; risks related to the rollout of the
Company’s business and the timing of expected business milestones,
including the ongoing global microchip shortage and limited
availability of chassis from vehicle OEMs and our reliance on our
suppliers; the effects of competition on the Company’s future
business; the availability of capital; and the other risks
discussed under the heading “Risk Factors” in the Company’s Annual
Report on Form 10-K filed on March 31, 2021, as amended and
supplemented by the 10-K/A filed May 17, 2021, and other documents
that the Company files with the SEC in the future. If any of these
risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. These forward-looking statements speak
only as of the date hereof and the Company specifically disclaims
any obligation to update these forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210826005235/en/
XL Fleet Media: PR@xlfleet.com
XL Fleet Investor: xlfleetIR@icrinc.com
XL Fleet (NYSE:XL)
Historical Stock Chart
From Mar 2024 to Apr 2024
XL Fleet (NYSE:XL)
Historical Stock Chart
From Apr 2023 to Apr 2024