XL Fleet Opens a Fleet Electrification Technology Center in Michigan
March 17 2021 - 7:00AM
Business Wire
Nearly 25,000 square-foot facility in Metro
Detroit provides access to leading automotive & commercial
vehicle engineering talent
Company expects to increase its engineering
headcount by 50% in 2021 as it continues rapid expansion
Michigan technology center is XL Fleet’s fourth
location, expanding strategic nationwide coverage for customers,
partners and employees
XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a
leader in fleet electrification solutions, has opened its newest
location in Wixom, MI, as the Company continues its rapid expansion
to meet customer demand for a range of electrification solutions.
The 24,655 square-foot facility is located in the heart of the
United States’ top-ranked region for automotive engineering talent
and will serve as a fleet electrification technology center to
support the design, development, testing and production of a wide
range of commercial vehicle electrification solutions.
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the full release here:
https://www.businesswire.com/news/home/20210317005260/en/
XL Fleet Opens a Fleet Electrification
Technology Center in Michigan (Photo: Business Wire)
The state-of-the-art facility will supplement XL Fleet’s
extensive product research and development programs, with
technology capabilities for prototyping, controls development, and
electrical and systems engineering. The facility will include a
component test lab including vibration capability, a vehicle
chassis dynamometer, an electronics lab and battery testing
equipment.
The Company expects to significantly expand its electrified
powertrain systems portfolio over the next several years, with
solutions including hybrid, plug-in hybrid, battery electric and
fuel cell electric systems, as well as electrification systems for
a range of new medium- and heavy-duty commercial applications.
XL Fleet anticipates growing its engineering team by
approximately 50% in 2021, many of which will be based in the new
Wixom facility. The Company expects to add at least 50 new
Michigan-based team members within the next three years, as the
location will provide access to a wealth of automotive and
commercial vehicle engineering talent within the region.
“XL Fleet’s expansion into Michigan marks a great milestone for
the Company, and an important element of our strategy to continue
adding breadth and depth to our best-in-class engineering
organization to develop the next generation of electrification
solutions needed to scale the business,” said Dimitri Kazarinoff,
CEO of XL Fleet. “We are very excited to expand the Company’s
footprint into this highly strategic location, where we will be
well positioned to add capacity to the exceptional talent we
already have in house,” he said.
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 145 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.
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
failure to realize the anticipated benefits from the business
combination; 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;
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 definitive proxy statement/prospectus
filed on December 8, 2020 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210317005260/en/
Media Contact: PR@xlfleet.com
Investor Contact: xlfleetIR@icrinc.com
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