Making a Case for the Future of its Electric Truck Fleet
As the holidays kicked off and the festivities of year-end were in full swing, Wedbush Securities’ Pasadena office made sure to add one final educational activity to the books, a detailed presentation from leading manufacturer of fully-electric commercial vehicles, XOS, rightfully equipped with an in-person showcasing of its latest model truck.
CEO, Dakota Semler and CFO, Kingsley Afemikhe, detailed the company’s beginnings, how it saw a massive opportunity in the fleet vehicle space and the endeavor to streamline such a process. They made this possible, keeping in mind the same durability that customers have come to expect from fleet trucks, yet with zero emissions.
The team expressed that “electrification” is no longer the future but a massive wave that is happening right here, right now. How companies choose to adapt to this new way of operating is their prerogative, but XOS aims to stay ahead of the eight ball during this opportune time. With this in mind, Semler and Afemikhe laid out the details of the business and made a case to all invited for the future of its electric vehicle fleet.
XOS is on a mission to electrify fleets through purpose-built trucks, charging infrastructures and management software. This holistic view, according to the company, is what will set the name apart as it continues to push through market downturns and maintain the highest level of client satisfaction.
Attendees were able to engage in a Q&A session where all questions about XOS’ future were discussed at length, the ins and outs of how its products work and more, before heading out to the street and meeting these vehicles in person.
Thanks to XOS for taking the time to speak with the Wedbush Securities’ Pasadena office. The team looks forward to staying up-to-date and engaged with all of the progress being made in tech space and more.
This content is provided for educational purposes and not to be seen as a recommendation to buy or sell any specific security.
XOS Corporate Profile
Xos is a leading manufacturer of fully electric, zero-emission medium- and heavy-duty commercial vehicles, powertrain components, and charging infrastructure. The company was founded in 2016 by Dakota Semler and Giordano Sordoni, two former fleet owners and operators, who sought to build an electric vehicle to solve the issues they were facing first-hand around increasing emissions regulations and the rising costs of maintenance and diesel. Xos’ mission is to decarbonize commercial transportation and facilitate a seamless transition for fleet owners from traditional internal combustion engines to fully-electric vehicles. Its proprietary battery system, the X-Pack, and modular chassis, the X-Platform, are purpose-built for medium- and heavy-duty commercial vehicles in the last-mile sector. The fleet-as-a-service offering provides customers with a comprehensive suite of products and services, such as vehicle maintenance and purchase financing, to help fleets more easily make the transition from diesel to electric.
Xos vehicles have been in use by commercial fleets since 2018 and are currently operated by multiple Fortune 500 companies. Notable customers include FedEx ISPs, Loomis, UniFirst, and Wiggins Lift Co. to name a few. The company is headquartered in Los Angeles, where its battery packs are built in-house, and has additional manufacturing facilities in Tennessee and Mexico, with more to come in the near future. In August 2021, the company went public and now trades on NASDAQ under the ticker symbol, XOS.