Xos and ElectraMeccanica Announce Proposed Combination

A unique opportunity to capitalize on strong demand for zero-emission electric trucks from commercial fleet operators, with strong regulatory tailwinds and total cost of ownership advantages.

Hear ElectraMeccanica’s latest investor call here:

Xos Forges Key Partnership with Winnebago

Xos is developing a fully electric chassis for Winnebago’s Specialty Vehicles division, which for over 55 years has built and delivered highly customized vehicles for both commercial and private applications.

A Proven Leader in Electric Truck Manufacturing and Fleet Electrification Services

Electric delivery truck

OUR PARTNERS

FedEx logo
Penske logo
Cintas logo
UniFirst logo

Three Reasons to Support Our Proposed Combination

row of Electric trucks
“We are continuously working to reduce our environmental impact and transitioning our fleet from diesel to electric is important to us. The vehicles from Xos will help us reduce our overall emission output”

– Unifirst EVP of Operations

01

Great EV Trucks Sold to Fleet Customers You Know

To date, Xos has delivered over 600 electric stepvans to customers including Fedex Ground, Penske, Cintas and UniFirst. Xos has been on the road with commercial fleets since 2018 and are currently operating across North America.

medium-duty electric truck
“Xos vehicles continue to deliver value to our growing fleet by helping us cut back on fuel and maintenance costs while also helping us meet our sustainability goals”

– Loomis VP of Procurement and Fleet

02

Strong Regulatory Tailwinds, Including Eleven States Taking Action and Voicing Support for EV Mandates

As of January 2024, the state of California is mandating any new delivery trucks purchased by large fleet operators that deliver in the state buy only electric –  or that by 2025, 10% of its total fleet must be electrified. Just under a dozen states have enacted supportive legislation, including California, Texas, New York, New Jersey, Pennsylvania, Maryland, Massachusetts, Colorado, Utah, Oregon and Nevada.

row of green electric delivery trucks

03

Substantial Revenues and Positive Margins

Xos delivered a record 110 Units to commercial fleet customers in the Fourth Quarter of 2023, achieving 90% year-over-year growth with a substantial backlog of orders. The proposed combination strengthens Xos’ financial profile, positioning it for strong growth potential.