- Deliveries of 32 units
- Revenue of
$3.1 million
These results compare to the previously announced fourth quarter outlook of 15 to 25 unit deliveries and revenues of
“Our ramp up in deliveries as we moved through the fourth quarter at both our Byrdstown and Monterrey facilities demonstrates our ability to fulfill customer orders for our zero-emission vehicles and powertrains in the face of a global supply chain disruption,” said
The Company is providing preliminary results for the three months ended
The delivery metrics and preliminary revenue results presented above should not be relied on as an indicator of final quarterly financial results, which depend on various factors, including cost of goods sold and operating expenses. Preliminary revenues are based on management’s initial review of operations for the quarter ended
ABOUT
Xos is a leading original equipment manufacturer of Class 5 through Class 8 commercial electric vehicles and powertrains and provides charging infrastructure and fleet management software for fleets. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of 200 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with zero-emission 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.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This press release, and the material referred to herein, 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”) future growth. 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, 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 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
CONTACTS
Xos Investor Relations
investors@xostrucks.com
Xos Media Relations
press@xostrucks.com
Source:
2022 GlobeNewswire, Inc., source