Xos, Inc. (NASDAQ: XOS) today announced that repeat customer,
UniFirst Corporation (UniFirst), has signed a purchase order for 30
additional 2023 Xos SV Stepvans. The order comes as part of
UniFirst’s Memorandum of Understanding to purchase 200 vehicles
from Xos. Deliveries are expected to take place at UniFirst's
Ontario, San Diego, and Stockton, CA locations between Q4 2023 and
Q1 2024.
In addition to the purchase of
vehicles, Xos Energy Solutions™ will support charging
infrastructure, with a charging purchase order already in place for
UniFirst's Ontario, CA location.
UniFirst’s purchase order follows
additional Xos stepvan purchases and energy infrastructure
installations at UniFirst's Santa Fe (2022) and Boston (2023)
locations. As part of these previous collaborations, Xosphere®—Xos’
fleet management software—has been implemented to provide valuable
insights into the deployment of UniFirst’s electric fleet. Future
deployments will continue to benefit from Xosphere as the software
helps optimize Total Cost of Ownership (TCO) and reduce vehicle
charging costs.
"We are excited to continue our
collaboration with Xos and harness the power of their
state-of-the-art electric stepvans. Xos' comprehensive solutions,
including vehicles, software, and infrastructure, have proven
instrumental in driving our successful electrification program,"
stated Michael Croatti, UniFirst's Executive Vice President of
Operations.
“There is nothing more satisfying than
seeing a world-class customer return to make another purchase
order,” said Dakota Semler, CEO & Co-Founder at Xos. “It is a
testament to the quality of our products and services, and confirms
that we are delivering the value our customers expect. We are
thrilled to continue this partnership and look forward to providing
UniFirst continued quality vehicles and service in the future."
About Xos, Inc.Xos, Inc. (NASDAQ: XOS) is a
North American leader in the production of Class 5 to Class 8
battery-electric vehicles and electric fleet services. Xos vehicles
and fleet management software are purpose-built for medium- and
heavy-duty commercial vehicles that travel on return-to-base routes
of up to 270 miles per day. The company leverages 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.
About UniFirstHeadquartered in Wilmington,
Mass., UniFirst Corporation (NYSE: UNF) is a North American leader
in the supply and servicing of uniform and workwear programs,
facility service products, as well as first aid and safety supplies
and services. Together with its subsidiaries, the Company also
manages specialized garment programs for the cleanroom and nuclear
industries. In addition to partnering with leading brands, UniFirst
manufactures its own branded workwear, protective clothing, and
floorcare products at its five company-owned ISO-9001-certified
manufacturing facilities. With more than 270 service locations,
over 300,000 customer locations, and 14,000-plus employee Team
Partners, the Company outfits more than 2 million workers every
day. For additional information, contact UniFirst at 888.296.2740
or visit UniFirst.com.
Xos ContactsXos Investor Relationsinvestors@xostrucks.com
Xos Media Relationspress@xostrucks.com
Xos Salessales@xostrucks.com
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes “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 expectations and timing related to
manufacturing quality, production yields, product deployments and
launches; sufficiency of existing cash reserves; customer
acquisition and order metrics. These forward-looking statements may
be identified by the words “believe,” “plan,” “project,”
“potential,” “seem,” “seek,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “target,” “opportunity,” “plan,”
“may,” “could,” “should,” “will,” “would,” “will be,” “will
continue,” “will likely result,” and similar expressions and any
other statements that predict or indicate future events or trends
or that are not statements of historical matters, although not all
forward-looking statements contain such identifying words.
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) Xos’ limited
operating history, (iii) cost increases and delays in production
due to supply chain shortages in the components needed for the
production of Xos’ vehicle chassis and battery system, (iv) Xos’
ability to meet production milestones and fulfill backlog orders,
(v) changes in the industries in which Xos operates, (vi)
variations in operating performance across competitors, (vii)
changes in laws and regulations affecting Xos’ business, (viii)
Xos’ ability to implement its business plan or meet or exceed its
financial projections, (ix) Xos’ ability to retain key personnel
and hire additional personnel, particularly in light of current and
potential labor shortages, (x) the risk of downturns and a changing
regulatory landscape in the highly competitive electric vehicle
industry, (xi) Xos’ ability to service its indebtedness, (xii)
macroeconomic and political conditions, and (xiii) the outcome of
any legal proceedings that may be instituted against Xos. All
forward-looking statements included in this press release are
expressly qualified in their entirety by, and 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, 2022 filed with the Securities and Exchange Commission
(the “SEC”) on March 31, 2023 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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