Year-End Wrap-Up: A Toast to the Milestones of 2021
Aerial shot of new Xos HQ located in Atwater Village.
As 2021 draws to a close, we’re feeling reflective and grateful for all of the accomplishments we’ve achieved this year. Of course, we couldn’t have conquered this year without the support of our investors, customers, partners, and team members.
Let’s take a look back at all the milestones we’ve hit as we’ve pushed toward decarbonizing transportation and making it easier for businesses to adopt electric fleet vehicles.
New Headquarters
The company moved out of our old North Hollywood location to a new headquarters in Atwater Village, totaling 85,142 square feet.
Flex Manufacturing Facilities
Our two Flex Manufacturing facilities allow us to be agile and physically close to customer sites. We don’t need millions of square feet to build our vehicles quickly and efficiently. Our new flex facilities total 210,000 square feet and can produce 1,000 units per year per facility, with the ability to expand to 5,000 units.
Staff Increases
We’re thrilled that Xos staff grew by 450% this year. We are now 295 strong and won’t slow down any time soon.
Ringing the bell at Nasdaq!
Nasdaq Listed
This August, we became a publicly-traded company and had the honor of participating in the Bell Ringing Ceremony.
FedEx Ground Contractors
212 trucks were ordered by FedEx Ground Contractors across the United States.
Dealership Expansion
We have 30 dealership locations across seven states and dealer partnerships with Yancey Bros. Co., Thompson Truck Centers, and Lonestar.
National Timmy Award Winner
Xos won the 2021 “Best Tech for Good” Timmy Award. This award celebrates the companies building solutions to our most significant global problems, improving quality of life, and helping the world better adapt to our current reality. We were honored to be recognized nationally by a distinguished panel of business and tech leaders for this award.
https://www.youtube.com/watch?v=8DT300eXF4M
Completing Durability Testing
Our stepvan went cruisin’ for a bruisin’ at a durability test track in Tennessee and withstood 200,000 simulated miles filled with bumps, pavement cracks, and other road imperfections.
Xos Community Action Program (XCAP) Launch
The Xos electric stepvan was used to deliver 10,000 meals in November.
We launched the Xos Community Action Program (XCAP), an employee outreach program focused on outreach and engagement with local nonprofits. This year, we were honored to deliver meals to those facing food insecurity and toys to foster children in Los Angeles using our zero-emission stepvans.
https://www.youtube.com/watch?v=1RQQVHBk1wI
For the holiday season, Xos volunteers collaborated with two nonprofits, CoCo’s Angels and Guardians of Love, to organize a toy drive and deliver toys to children in foster homes around Los Angeles using our zero-emission stepvan.
The Lyra Series™ battery system.
New Products and Services
In 2021, we manufactured electric powertrains, launched our new Xos Energy Solutions division, announced the latest battery system, the Lyra Series™, and debuted the Xos Hub™ mobile charging station.
See all of our proudest and most significant accomplishments in our 2021 wrap-up video below:
https://www.youtube.com/watch?v=QgE9VoUgtYs
What Does 2022 Have in Store?
As we take stock of this past year and take the first steps into the new year, we’re anticipating growth across all fronts. We hope you continue to follow us on our journey.
See you in 2022.
Cautionary Statement Regarding Forward-Looking Statements
This blog post, 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 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 September 30, 2021 filed with the Securities and Exchange Commission (the “SEC”) on November 12, 2021 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.
