Xos Stepvans Eligible for Thousands in State and Federal Incentives
October 05 2023 - 4:12PM
Xos, Inc. (NASDAQ: XOS) is proud to announce that their 2023 Xos SV
is eligible for impressive incentives in place by both federal and
state governments. With IRS approval as a qualified manufacturer
for the Commercial Clean Vehicle Credit, Xos customers are eligible
to receive up to a $40,000 tax credit for deliveries of all Xos
Stepvans until the program ends in 2032.
“We are thrilled our customers will be eligible to take
advantage of these incentives,” said Xos CEO, Dakota Semler. “Our
goal is to make fleet electrification a smooth and easy transition,
and these incentives make it even easier, and more cost effective
for our customers to make the switch to electric.”
In addition to the federal incentives, Xos customers are also
eligible for the California Hybrid and Zero-Emission Truck and Bus
Voucher Incentive Project (HVIP) which can save them up to $85,000
on the purchase price of an Xos Stepvan.
Xos stepvans are also eligible for incentives in other states
such as Texas, New Jersey, New York, and Colorado. You can view
more incentives at xostrucks.com/incentives.
Xos Trucks is committed to making fleet electrification more
accessible and affordable for businesses. With the incentives
available, Xos customers can save thousands of dollars on the
purchase of an Xos Stepvan.
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
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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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