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Xos, Inc. - XOS STOCK NEWS

Welcome to our dedicated page for Xos news (Ticker: XOS), a resource for investors and traders seeking the latest updates and insights on Xos stock.

Xos, Inc. (NASDAQ: XOS) is a pioneering electric mobility company based in Los Angeles, specializing in the design and development of fully electric battery mobility systems for commercial fleets. With a strategic focus on medium- and heavy-duty commercial vehicles, Xos offers innovative solutions particularly suited for last-mile delivery routes.

Founded with the mission to provide sustainable and cost-effective transportation, Xos leverages proprietary technologies to deliver zero-emission vehicles that are not only easier to maintain but also more cost-efficient over their total life cycle when compared to traditional internal combustion engines and other commercial EV options. The company's vehicles and fleet management software are tailored to meet the unique needs of back-to-base routes, ensuring efficiency and reliability.

Recent achievements highlight Xos' significant progress in the industry. The company reported a 22% year-over-year increase in full-year revenue, with strong positive gross margins in the third and fourth quarters of 2023. In a move that strengthens its financial position, Xos has entered a definitive agreement to acquire ElectraMeccanica, which is expected to bolster its balance sheet.

During 2023, Xos set delivery records in consecutive quarters, thanks to robust demand for its electric vehicles (EVs). The company also launched a gross margin-positive stepvan and significantly reduced operating expenses. These milestones position Xos to capitalize on future growth opportunities with an optimistic outlook for 2024, forecasting a revenue growth of approximately 88% year-over-year at the midpoint of their guidance range.

Xos is committed to advancing the electric vehicle industry, navigating challenges such as supply chain shortages and regulatory changes. Despite facing cost increases and delays in component production, the company remains focused on meeting production milestones and fulfilling backlog orders. Xos continues to innovate and expand its offerings, aiming to enhance the sustainability and efficiency of commercial transportation.

For more information, visit the Xos website, or contact Xos Investor Relations at investors@xostrucks.com, and Xos Media Relations at press@xostrucks.com.

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Xos, Inc. (NASDAQ: XOS) announces the release of the 2024 Xos SV Stepvan, featuring new enhancements for improved driver comfort and control. The stepvan offers ABS with hill hold, low-speed noise generators, customizable features for fleet operators, and advanced driver comfort options. This release showcases Xos' commitment to innovation and customer satisfaction in the electric commercial vehicle industry.
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Xos, Inc. completes acquisition of ElectraMeccanica Vehicles Corp., adding $48 million to balance sheet and strengthening position in electric vehicle market.
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Xos, Inc. reported a 22% increase in full-year revenue, achieved positive gross margins in the third and fourth quarters of 2023, and entered into an agreement to acquire ElectraMeccanica. The company improved revenue to $44.5 million in 2023, reduced operating expenses by 43%, and strengthened its position in the EV stepvan market.
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Xos, Inc. (NASDAQ: XOS) will release its Q4 and full year 2023 operating results on March 21, 2024. A conference call will follow to discuss the financial results. Details for accessing the call and webcast are provided, along with information on the replay availability.
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ElectraMeccanica (NASDAQ: SOLO) founder and former board member Jerry Kroll agrees to vote in favor of the proposed combination with Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer. The merger aims to create a strong entity focused on zero-emission commercial vehicles, meeting market demand and providing economic value.
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Xos, Inc. (NASDAQ: XOS) secures a purchase order from Mission Linen Supply for 22' stepvans, marking a significant move towards electric fleet adoption. Mission Linen Supply's commitment to sustainability aligns with Xos' mission, bringing value to both companies' operations.
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ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announces a special meeting for shareholders to vote on an arrangement with Xos, Inc. The Arrangement proposes the acquisition of all ElectraMeccanica common shares by Xos, with shareholders expected to own 79% and 21% of the Combined Company, respectively. The meeting will be held virtually on March 20, 2024. The Board recommends voting in favor of the proposal.
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Xos, Inc. (XOS) has announced the next generation of their mobile charging unit, The Xos Hub™, designed to expedite the electrification of fleets. Xcel Energy has signed a purchase order for two of the new Hubs, offering 280kWh of energy capacity and charging capability up to 160kW. The Hub is more powerful, affordable, and versatile, providing cost-effective solutions for EV fleet operators.
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Xos, Inc. (Nasdaq: XOS) ranked #51 on the Deloitte Technology Fast 500™, with a revenue growth of 3,071% from 2019 to 2022. The company's CEO, Dakota Semler, expressed pride in their achievements, highlighting positive gross margins on their newest 2023 SV stepvan model. The 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame, with an average growth rate of 1,934% and a median growth rate of 497%.
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Xos, Inc. and ElectraMeccanica announce a joint conference call for shareholders on January 24, 2024, at 9:15am ET. The webcast will feature ElectraMeccanica CEO Susan E. Docherty and Xos CEO Dakota Semler providing information for investors.
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FAQ

What is the current stock price of Xos (XOS)?

The current stock price of Xos (XOS) is $4.505 as of November 1, 2024.

What is the market cap of Xos (XOS)?

The market cap of Xos (XOS) is approximately 35.0M.

What does Xos, Inc. specialize in?

Xos, Inc. specializes in designing and developing fully electric battery mobility systems for medium- and heavy-duty commercial vehicles.

Where is Xos, Inc. located?

Xos, Inc. is based in Los Angeles, California.

What was Xos' revenue growth in 2023?

Xos reported a 22% year-over-year increase in full-year revenue for 2023.

What recent acquisition has Xos made?

Xos has entered into a definitive agreement to acquire ElectraMeccanica to strengthen its balance sheet.

What types of vehicles does Xos focus on?

Xos focuses on medium- and heavy-duty commercial vehicles that operate on last-mile, back-to-base routes.

How do Xos vehicles compare to traditional internal combustion engines?

Xos vehicles are easier to maintain and more cost-efficient on a total cost of ownership basis than traditional internal combustion engines.

What are Xos' goals for 2024?

Xos aims to deliver strong revenue growth of approximately 88% year-over-year at the midpoint of their guidance range.

How can I contact Xos Investor Relations?

You can contact Xos Investor Relations by email at investors@xostrucks.com.

What are some of Xos' recent achievements?

Xos achieved record back-to-back quarters in 2023, launched a gross margin-positive stepvan, and significantly reduced operating expenses.

Where can I find more information about Xos' financial performance?

More information about Xos' financial performance can be found on their Investor Relations website at investors.xostrucks.com.

Xos, Inc.

Nasdaq:XOS

XOS Rankings

XOS Stock Data

34.97M
8.00M
59.2%
2.18%
3.72%
Farm & Heavy Construction Machinery
Motor Vehicle Parts & Accessories
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United States of America
LOS ANGELES