Xos Completes First Over-the-Air Updates Across Vehicles
September 07 2023 - 9:07AM
Xos, Inc. (NASDAQ: XOS), is proud to announce the successful
completion of its first launch of over-the-air updates to its 2023
Xos SV Stepvans. This marks a major milestone in the commercial
electric vehicle industry, as full-vehicle over-the-air updates
have traditionally been limited to consumer electric vehicles.
The 2023 Xos SV Stepvan is the latest in a line of electric
commercial vehicles from Xos. It includes a range of improvements
over previous models, including the capability for over-the-air
updates. This allows Xos to make a variety of updates to the
vehicle, including new vehicle features, powertrain tuning, and
charging enhancements.
The same telematics control units that enable over-the-air
updates also allow for over-the-air diagnostics. This allows Xos to
quickly and more efficiently address charging or operation
issues.
Among the vehicles that have received the first over-the-air
updates is a stepvan in service with a major parcel and delivery
operator. These updates include charging enhancements to stabilize
the vehicle's charging compatibility with the third party chargers
already onsite at the customer's terminal.
"We are thrilled to be among the first to offer full vehicle
over-the-air updates to our electric commercial stepvans," said
Saleh Heydari, Vice President of Software Engineering at Xos. "This
is a major milestone for the industry, and we are proud to be
leading the way in providing our customers with the most advanced
and reliable electric vehicles on the market."
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. 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 ContactsXos Investor
Relationsinvestors@xostrucks.com
Xos Media Relationspress@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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2b66e449-5187-4b00-b933-2eca4b24c5eb
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