Company Announcements

LOS ANGELES, April 04, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet electrification services provider, is excited to announce the release of the 2024 Xos SV Stepvan. This latest model boasts a range of new features and improvements, making it the most advanced and versatile stepvan from Xos to date.

"We are constantly striving to improve and innovate our designs to meet the needs and comfort of our customers and drivers," said Xos CEO, Dakota Semler. "The 2024 Xos SV Stepvan is a testament to our commitment to providing top-of-the-line electric commercial vehicles."

One of the key changes for the 2024 model year is the addition of ABS with hill hold, providing drivers with enhanced control on the road. The Stepvan also now comes equipped with low-speed noise generators, to alert pedestrians and other vehicles of the vehicle's presence.

In addition to these enhancements, the 2024 Xos SV Stepvan also offers improved driver comfort. The new tilt and telescoping steering column allows for a more personalized driving experience, while additional heater and AC configurations cater to extreme weather conditions.

Fleet operators will also have the option to choose from lift-gate-ready kits and multiple tire options to suit the specific needs of their fleet best. This customization allows for a more tailored operation, ensuring the 2024 Xos SV Stepvan is the perfect fit for any fleet.

"We are thrilled to offer these new features and improvements for the 2024 Xos SV Stepvan," said Semler. "We are confident that these updates will enhance the overall driving experience and make our stepvan even more versatile for a variety of businesses."

The 2024 Xos SV Stepvan is now available for purchase. For more information, visit Xos' website or contact a local dealer. Xos is committed to decarbonizing the commercial vehicle industry, and the 2024 Xos SV Stepvan is just one example of its dedication to innovation and customer satisfaction.

About Xos, Inc.
Xos is a leading technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. 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. 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, visit www.xostrucks.com.

Contacts

Xos Media Relations
press@xostrucks.com

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This website and other items we publish, including through social media outlets, 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 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, including but not limited to: (i) Xos, Inc.’s (“Xos”) ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) Xos’ limited operating history, (iii) cost increases and supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iv) Xos’ ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos’ business, (viii) Xos’ inability to implement its business plan or meet or exceed its financial projections (ix) Xos’ ability to retain key personnel and hire additional personnel, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (xi) the outcome of any legal proceedings that may be instituted against Xos.

You should carefully consider the preceding factors and the other risks and uncertainties described in Xos’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Copies of Xos’ SEC filings may be obtained by visiting Xos’ Investors Relations website at investors.xostrucks.com or the SEC’s website at www.sec.gov. These filings may 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01f382d5-0512-4ca3-b624-96ccf2da97b7