California adopted a landmark rule requiring more than half of all commercial trucks sold in the state to be zero-emissions by 2035, and all trucks by 2045 — further validating the market opportunity for Xos Trucks. “We’re excited to continue growing our operations to provide best-in-class last-mile electric vehicles for our customers,” said Dakota Semler, co-founder and CEO of Xos Trucks. “That money is going to be used to build vehicle assembly and battery manufacturing capacity and to continue to work on next-generation battery systems and other technologies,” said George Mattson, a former Goldman Sachs Group Inc. banker who started the NextGen SPAC and will be joinng Xos’ board. Xos Trucks General Information Description. Currently, Metalsa supplies the global market with manufacturing plants, offices and technology centers worldwide in countries such as Argentina, Brazil, India, Japan, Mexico, Thailand, and the USA. Xos Trucks David Israel VP Brand & Marketing press@xostrucks.com Tel: +1-424-703-4395. Xos, a maker of electric commercial vehicles, has agreed to go public through a merger with a blank-check company, NextGen Acquisition Corp., according to a statement viewed by Bloomberg News. It was founded in 2016 and headquartered in North Hollywood, California. Xos builds state-of-the-art electric trucks and develops cutting-edge technologies and mobility solutions that exceed anything on the present market. News Reviews In a post on Medium, Jose Castaneda, Xos vice president of business development wrote: “When we launched Xos Trucks, our flagship prototype was the ET-One, a fully electric Class 8 truck for heavy-duty applications.” Each Xos system has its own air cooling for safety, and lower weight and cost. “This investment is critical to our team’s growth so we can scale to meet that demand.”. is looking to partner with ambitious and visionary founders transforming the way in which we think about mobility pushing for more efficient, safety-focused and environmentally friendly solutions. About Xos TrucksLos Angeles-based Xos Trucks is an electric mobility company dedicated to making fleets more efficient. Units in the SPAC closed trading in New York Friday at $14.44 a share. Finally, the … Xos Trucks News & Media. Funding will be used to fuel technical operations and production of the company’s signature skateboard chassis, the X-Platform. Xos’ trucks are powered by its proprietary technology, developed to meet the needs of commercial fleets, and designed to achieve a TCO that is lower than traditional fossil fuel vehicles and other electric vehicle alternatives. Feb 22, 2021. www.freightwaves.com . NextGen Acquisition was started by Mattson and former Carlyle Group executive Gregory Summe. Before it's here, it's on the Bloomberg Terminal. It's ET-One all electric semi is... [+] © 2018 Bloomberg Finance LP Xos Inc., a North Hollywood, California-based manufacturer of … Another electric truck-maker Lion Electric Inc. announced it would go public through a SPAC this year. Janus Henderson one of the investors backing transaction, Xos joins rush of EV companies going public through SPACs. Xos Inc., a Los Angeles-based manufacturer of electric commercial vehicles, is going public via the SPAC NextGen Acquisition Corp. (NASDAQ: NGAC). “Fleets have to begin planning for this and making that transition,” Semler said. Xos Trucks announced a partnership with Thompson Truck Centers, which over the next three years might order up to 1,100 electric trucks. [Stay on top of transportation news: Get TTNews in your inbox.] NGAC Stock merger with XOS EV truck company was recently announced. Xos Trucks, Inc. Xos, formerly known as Thor Trucks, rebranded itself in 2019. “We’re thrilled to back an experienced, technical, and mission-driven team that is one of the few with vehicles on the roads in customers’ hands, a strong pipeline of customers and an exciting slate of new vehicles in the works.”, “As orders continue to come in on a monthly basis, we are excited to meet the overwhelming demand for both our medium-duty and heavy-duty trucks,” said Xos Trucks co-founder and COO Giordano Sordoni. But evaluating the performance of companies like Xos Trucks can be useful in determining how the market is performing and whether now is a good time to invest in this industry. It is providing components to the chassis as part of the investment. Diesen Schwung will nun anscheinend auch Xos nutzen und sich aufs Börsenparkett wagen. August 18, 2020 11:00 ET NextGen Stock, Electric Trucks. Mit NextGen Acquisition Corp steht der Börsengang von Xos Trucks kurz bevor. He added that the company is expected to be cash flow positive by 2023. The SPAC raised about $350 million in … “We’ve been impressed with what the Xos team has been able to achieve in such a short amount of time and with limited funding. The financing, which closed in early 2020, will be used to grow operations and further scale production of the X-Platform currently used by customers Loomis and UPS, among others. But Xos only revealed the amount Tuesday. Since the merger news is just a rumor right now with no official statement from either company, no other details are available. It raised $375 million last fall in an initial public offering. Loomis/Xos electric armored vehicle Loomis will evaluate the Xos vehicles for … invests in industrial tech, smart components, new vehicles, MaaS and digital data services. XOS was founded in 2016 by a pair of former truck fleet operators who saw firsthand the issues with diesel. Xos Inc, an electric commercial vehicle maker, on Monday agreed to go public through a merger with blank-check firm NextGen Acquisition Corp, in a deal valuing the combined entity at $2 billion. The deal will provide the company with $575 million in gross proceeds, the statement said. “It’s our goal to provide reliable, affordable, and sustainable transportation as the volume of e-commerce demands are increasing, and have accelerated during the pandemic.”. Xos Trucks on Nasdaq Xos, Inc., a leading manufacturer of electric Class 5 to Class 8 commercial vehicles, and NextGen Acquisition Corp., a publicly traded special-purpose acquisition … Metalsa helped Xos design the X-Platform. Semler said states like California, which are phasing out cars that produce emissions, will help increase demand for commercial electric vehicles like Xos. Strategic Distribution Agreement with Thompson Truck Centers will help deploy Xos commercial electric vehiclesLOS ANGELES, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Xos Trucks, Inc., a … Electric chassis maker Xos Trucks agrees to $575M SPAC merger With medium- and heavy-duty trucks already using its electrified chassis, Xos Trucks will have $575 million to scale its business following a SPAC merger. is backed by the Proeza Group, a portfolio management company which also owns Metalsa. The deal values the combined equity at $2 billion, the companies added. Provider and operator of medium and heavy-duty electric trucks intended to outperform their diesel counterparts in Los Angeles, California. Once the deal closes, the company will trade on Nasdaq under the symbol XOS. XOS is a Los Angeles based Transportation Lab creating and deploying solutions to fleets. It also offers Just in Time services in sequencing centers located in strategic areas close to its customers. Xos' first product was a … | Source: Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio , price/earnings-to-growth (PEG) ratio and dividend yield. Other recent customers deploying Xos class 6 vehicles include UPS and cash-in-transit company Loomis. Xos has also made several key hires: Kingsley Afemikhe as its CFO and Rob Ferber, employee number one and science director at Tesla, as CTO. Xos currently manufactures two types of electric truck: a Class 6 medium-duty step van for light, short-range deliveries and a Class 8 heavy-duty truck for longer journeys called the ET-One. Xos' first product was a fully-electric semi called the ET-One. XOS Electric Car Strategy in the news 2017 Week 51 Thor, now XOS, unveils it’s EV truck In the same week that Daimler starts delivering its all-electric delivery truck in Europe, the Fuso eCanter, and Pepsi committing to 100 units of the Tesla Semi two companies introduced their solutions for … Das gaben beide Unternehmen Anfang Oktober bekannt. LOS ANGELES, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Xos Trucks, Inc., a leading manufacturer of fully electric commercial vehicles, today announced it has raised $20 million from a group of investors including Proeza Ventures, a mobility-focused VC firm backed by Metalsa’s holding company, and BUILD Capital Group. P.V. The North Hollywood-based startup formerly known as Thor Trucking launched four years ago focusing on green delivery trucks. Shares of NextGen Acquisition fell 3.8% to close at 12.98 in Tuesday's stock market.NextGen stock jumped 29% Monday after reports of a deal to take Xos public. Xos vehicles have also been in use for delivery on UPS customer routes in the Los Angeles area for the past eight months. Bank of America Corp. advised Xos and Goldman Sachs Group Inc., Rothschild & Co. and Credit Suisse Group AG advised NextGen. Xos' first product was a … For more information, please visit www.xostrucks.com. About Proeza VenturesBased in Monterrey, Mexico, and Houston, Texas, Proeza Ventures is a venture capital firm investing exclusively in the mobility space. Dakota Semler, Xos’ co-founder and chief executive officer, said in an interview that the Los Angeles-based company has other distribution partnerships that haven’t been announced yet. For more information please visit www.proezaventures.com and follow @proezaventures. Xos Trucks specializes in the field of manufacturing fully electric commercial vehicles. Xos Trucks, Inc. North Hollywood, California, UNITED STATES. They teamed up with XOS’ CTO, Rob Ferber, to design a battery-electric platform optimized for the rigors of heavier-duty fleet deployment. Der US-amerikanische Hersteller von batterie-elektrischen Lkw Xos Trucks und der japanische Lkw-Hersteller Hino werden bei der Ausrüstung von mittelschweren und schweren Lkw mit batterieelektrischem Antrieb zusammenarbeiten. Das kalifornische Cleantech-Unternehmen Xos Trucks hat eine Elektromobilitäts-Plattform entwickelt, die unter anderem eingesetzt wird, um die UPS-Flotte zu dekarbonisieren. To support the transaction, the special purpose acquisition company will raise $220 million from investors including Janus Henderson Group Plc and a group of truck dealers led by Thompson Truck Centers. Xos builds state-of-the-art electric trucks and develops cutting-edge technologies and mobility solutions that exceed anything on the present market. Das in Kalifornien ansässige Unternehmen Xos Trucks hat sich bislang auf die Entwicklung … Electric vehicle maker Xos Trucks is gearing up to go public through a reverse merger with NextGen Acquisition Corp. (NGAC). About Metalsa METALSA, a global Mexican company with more than 60 years of experience in the automotive industry, manufactures safe and sustainable mobility structures for people around the world, seeking to minimize the environmental impact through the innovation of its processes and products. As part of the investment, Metalsa has assisted Xos in the design of the X-Platform and is providing components to the chassis. It features a software platform that is designed to accommodate an extensive variety of medium-duty bodies, wheelbase, and range requirements up to 200 miles. Xos Trucks, a commercial electric truck maker, announced Tuesday it has raised $20 million to ramp up production as California tightens emissions control on big rigs and delivery vans.. With this international presence, Metalsa can effectively fulfill and carry out global customer strategies locally. Turkey’s Crypto Pain Grows With Second Exchange Collapse, CDC Advisers Reaffirm Backing of J&J’s Vaccine After Pause, U.S. Ends Pause on J&J’s Vaccine After Concern About Clots, A Scientist Stopped By and Made Covid Vaccine in My Kitchen, Virus Surge and China Are Muddying the Bullish Asian Stock Story. 10 were here. Not only have they been able to assemble a high caliber team, but they have designed and engineered a proprietary, reliable and affordable battery pack and skateboard solution for commercial fleets,” said Rodolfo Elias Dieck, Managing Director at Proeza Ventures. Some of Xos customers include United Parcel Service Inc., armored car service company Loomis AB and transportation company Lonestar. A parade of electric vehicle makers have done deals with SPACs as startups seek to bulk up and raise cash to help develop their products and get an edge in an increasingly competitive space. For additional information, visit http://www.metalsa.com. Xos Trucks is seeking a new niche of all-electric armored cash-handling trucks - the first customer, Loomis, considers the purchase of 100 units. Xos Trucks is also developing a Class 8 electric truck, the ET-One, which is expected to enter the production phase by the end of 2021. Xos builds state-of-the-art electric trucks and develops cutting-edge technologies and mobility solutions that exceed anything on the present market. Have a confidential tip for our reporters? In the consumer vehicle space, Lucid Motors Inc. is also close to announcing a SPAC deal, Bloomberg News reported, one of the most established electric vehicle companies to take this route. Xos, a maker of electric commercial vehicles, has agreed to go public through a merger with a blank-check company, NextGen Acquisition Corp., according to a … Joining Xos’ board includes Rodolfo Elias Dieck of Proeza Ventures, focused exclusively on funding high-growth mobility startups, and Mark Lampert of BUILD Capital Group and former Daimler executive. P.V. P.V.
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