Xos Secures Purchase Order for 30 Battery-Electric Stepvans from Alsco

Rhea-AI Summary

Xos, Inc. (NASDAQ: XOS) has secured a purchase order for 30 battery-electric stepvans from Alsco Uniforms, a global uniform and linen rental services company. The vehicles will be deployed across five facilities in California, enhancing Alsco's fleet electrification efforts aligned with their ESG initiatives. The deployment includes nine vehicles each to Santa Rosa and San Jose, seven to San Francisco, three to Concord, and two to Los Angeles. This partnership signifies Xos's expanding footprint in the uniform and linen services sector.

Positive

• Secured a purchase order for 30 battery-electric stepvans from Alsco Uniforms.
• Expansion into the uniform and linen services industry enhances market presence.

Negative

• None.

Stepvans to be deployed across five California facilities of the global uniform and linen rental services company

LOS ANGELES , Dec. 06, 2022 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading technology company which provides fleet services, software solutions, and manufactures Class 5 through Class 8 battery-electric commercial vehicles, today announced it has secured a purchase order for 30 of its 100% battery-electric stepvans from global uniform and linen rental services company Alsco Uniforms. The 30 vehicles will be split and deployed across several of Alsco's California laundry processing facilities as follows: nine vehicles to Santa Rosa, nine vehicles to San Jose, seven vehicles to San Francisco, three vehicles to Concord, and two vehicles to Los Angeles.

“We’re thrilled to add Alsco to the Xos ecosystem and expand our footprint within the uniform and linen services industry,” said Jose Castañeda, Vice President of Business Development at Xos.

In its most recent sustainability report, Alsco Uniforms outlined its latest efforts and results in building a more sustainable business, including a reduction of water use by 50% over the last 10 years, the elimination of paper waste by implementing an online account management system, and an investment in American-made fabrics with life cycles of up to 80% longer than imported linens.

“We are thrilled to add the Xos stepvans to our nationwide fleet,” said Tim Stuewer, Director of Operations Support at Alsco. “The move to fleet electrification is an important pillar of our ESG initiative. We’ve been impressed by the vehicles that Xos has built and we’re looking forward to using them to make uniform, linen, floor mat, first aid and restroom supply deliveries to our many customers in California.”

A video accompanying this announcement is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/94bf3327-d5cd-41c2-938e-788646009f5a

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, please visit www.xostrucks.com.

Xos Contacts
Xos Investor Relations
investors@xostrucks.com

Xos Media Relations
press@xostrucks.com

About Alsco
Alsco is a fifth-generation family-owned and operated uniform company founded in 1889 and recognized by the prestigious Hohenstein Institute for having invented the uniform rental industry. Celebrating over 130 years of business, Alsco provides uniform laundry services and other products that keep businesses clean and safe for all kinds of customers in the healthcare, automotive, industrial and hospitality industries. With more than 180 locations and 17,000 employees, Alsco provides laundry rental services to over 355,000 customers in 13 countries, which makes Alsco Uniforms the largest uniform company in the world. Visit alsco.com to learn more about how Alsco Uniforms is the industry’s best-kept secret.

Cautionary Statement Regarding Forward-Looking Statements
This press release may include “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 Xos, Inc.’s (“Xos”) expected product deliveries. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. 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) cost increases and supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iii) changes in the industries in which Xos operates, (iv) changes in laws and regulations affecting Xos’ business, (v) Xos’ ability to retain key personnel and hire additional personnel, (vi) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (vii) the outcome of any legal proceedings that may be instituted against Xos. 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, 2021 filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2022 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.

FAQ

What is the recent announcement by XOS regarding Alsco Uniforms?

XOS announced a purchase order for 30 battery-electric stepvans from Alsco Uniforms, to be deployed across five California facilities.

How many stepvans did XOS sell to Alsco and where will they be deployed?

XOS sold 30 stepvans to Alsco, which will be deployed in Santa Rosa, San Jose, San Francisco, Concord, and Los Angeles.

What does the partnership between XOS and Alsco signify?

The partnership signifies XOS's growing footprint in the uniform and linen services industry and supports Alsco's fleet electrification and ESG initiatives.

When was the purchase order for XOS stepvans announced?

The purchase order was announced on December 6, 2022.

What is the stock symbol for XOS?

The stock symbol for XOS is NASDAQ: XOS.