Xos Delivers 88 Units in Third Quarter 2022
October 05 2022 - 7:00AM
Xos, Inc. (NASDAQ: XOS), a leading technology company that provides
fleet services, software solutions, and manufactures Class 5
through Class 8 battery-electric commercial vehicles, today
announced it delivered a total of 88 units to customers during the
third quarter of 2022. Xos had previously provided a second half of
2022 guidance range of 150 to 200 units delivered and is on track
for its deliveries to fall within that range.
“We are pleased with our continued growth of vehicle deliveries
year-over-year and quarter-over-quarter as we work to provide our
customers with the most durable and reliable electric trucks,
powertrain systems, and fleet management tools available,” said
Dakota Semler, Chief Executive Officer at Xos. “We’ve scaled up our
manufacturing and production capabilities significantly and look
forward to continuing to provide the vehicles and services needed
to help fleets seamlessly transition to battery-electric.”
The 88 units were delivered across approximately 15 North
American cities, and several customers including Merchants Fleet
and Fedex Ground operators, as previously announced. The third
quarter unit deliveries represent a 21% sequential quarter over
quarter increase from the second quarter of 2022, during which Xos
delivered 73 units.
Xos will provide further details on third quarter performance
and an update on its outlook for the remainder of the year on its
Q3 2022 earnings call in November.
About Xos, Inc.Xos is a leading
technology company, fleet services provider, and original equipment
manufacturer of Class 5 through Class 8 battery-electric vehicles
and the tools to adopt them. 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 zero-emission
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, please visit
www.xostrucks.com.
ContactsXos Investor
Relationsinvestors@xostrucks.com
Xos Media Relationspress@xostrucks.com
Cautionary Statement Regarding Forward-Looking
StatementsThis press release may include “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, but are not limited to,
statements regarding Xos, Inc.’s (“Xos”) expected product
deliveries. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) Xos’ ability to
implement business plans, forecasts, and other expectations, and
identify and realize additional opportunities, (ii) cost increases
and supply chain shortages in the components needed for the
production of Xos’ vehicle chassis and battery system, (iii)
changes in the industries in which Xos operates, (iv) changes in
laws and regulations affecting Xos’ business, (v) Xos’ ability to
retain key personnel and hire additional personnel, (vi) the risk
of downturns and a changing regulatory landscape in the highly
competitive electric vehicle industry and (vii) the outcome of any
legal proceedings that may be instituted against Xos. You should
carefully consider the foregoing factors and the other risks and
uncertainties described under the heading “Risk Factors” included
in Xos’ Annual Report on Form 10-K for the fiscal year ended
December 31, 2021 filed with the Securities and Exchange Commission
(the “SEC”) on March 30, 2022 and Xos’ other filings with the SEC,
copies of which may be obtained by visiting Xos’ Investors
Relations website at https://investors.xostrucks.com/ or the SEC's
website at www.sec.gov. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Xos assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Xos does not give any assurance that
it will achieve its expectations.
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