Xos, Inc. Celebrates 2021 Progress in Year in Review Video

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LOS ANGELES, Dec. 21, 2021 (GLOBE NEWSWIRE) – Xos, Inc. (NASDAQ: XOS), a leading manufacturer of Class 5-8 fully electric utility vehicles, today released a video celebrating its key announcements from 2021.

“2021 has been a year of strong growth for Xos. We are excited to share more in the new year about our production progress, new customers and partnerships, and the bright talents joining our growing team, ”said Dakota Semler, CEO of Xos.

Here are some highlights from 2021 to Xos:

  • New 85,000 square foot head office in Los Angeles

  • Two new flexible manufacturing facilities, equivalent to 210,000 square feet of production area

  • Unveiling of the Lyra Series â„¢ battery system and automated battery line, creating a production capacity of 300 MWh of battery

  • 450% increase in the workforce, from 66 to 295 employees

  • 212 truck orders from FedEx Ground operators nationwide, plus several additional customers

  • 30 dealerships in 7 states

  • Public listing on the NASDAQ stock exchange

To find out more, watch the video at the link here.

About Xos, Inc.
Xos, Inc. is an electric mobility company dedicated to decarbonizing commercial truck fleets. Xos designs and manufactures fully electric utility vehicles at competitive prices. The company focuses primarily on medium and heavy-duty utility vehicles that cover the last mile, return-to-base routes of less than 200 miles per day. The company leverages its proprietary technologies to provide commercial fleets with zero emission vehicles that are easier to maintain and more cost effective on a total cost of ownership (TCO) basis than their commercial internal combustion engine and EV counterparts. . For more information, please visit www.xostrucks.com.

Caution regarding forward-looking statements
This press release, and the material referred to, 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 are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “the strategy”, “the future”, “the opportunity”, “The plan”, “may”, “should”, “will”, “would”, “will”, “will continue”, “will probably result” and similar expressions. Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. There are many factors that could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, but not limited to: (i) the ability of Xos, Inc. (“Xos”) to implement business plans, forecasts and other expectations, and identify and realize additional opportunities, (ii) limited operating history of Xos, (iii) cost increases and supply chain shortages ” supply of components necessary for the production of the vehicle chassis and battery system of Xos, (iv) the ability of Xos to meet production milestones and fulfill back orders, (v) changes in the sectors in which Xos operates, (vi) variations in operating performance between competitors, (vii) changes in laws and regulations affecting Xos ‘business, (viii) Xos’ inability to implement its management plan make or meet or exceed its financial projections (ix) the ability of Xos to retain key personnel and hire additional personnel, (x) the risk of downturn and a changing regulatory landscape in the highly competitive electric vehicle. industry and (xi) the outcome of any legal proceedings that may be brought against Xos. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the Securities and Exchange Commission (the “” SEC “) on November 12, 2021 and other documents filed by Xos with the SEC, copies of which may be obtained by visiting the Xos Investor Relations website at https://investors.xostrucks.com/ or the SEC website at www.sec.gov. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Xos gives no assurance that he will meet his expectations.

Contact

Xos Media Relations
press@xostrucks.com

Xos Investor Relations
investors@xostrucks.com


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