LOS ANGELES, Aug. 04, 2022 (GLOBE NEWSWIRE) — Xos, Inc. (NASDAQ: XOS), a leading fleet service provider and manufacturer of Class 5-8 battery electric vehicles, today announced signed a dealership and initial delivery agreement with Gabrielli Truck Sales (“Gabrielli”) to offer the Xos suite of vehicles to its customers across New York, New Jersey and Connecticut. Gabrielli will sell Xos’ flagship Class 5 and 6 vans, as well as its newly unveiled Class 6 and 7 MDXT™ Chassis Cab and Class 8 HDXT™ electric trailer, at 17 of its 19 locations in the Northeast . .
“We are thrilled to expand our footprint in the North East with this franchise agreement with award-winning team Gabrielli,” said Jessica Savage, Head of Distribution at Xos. “In existence since 1966, the Gabrielli team is widely recognized for its longstanding leadership in truck sales and service in the East.”
Gabrielli is a family-owned truck sales and service dealership with 19 locations in the northeast. The company offers new, used and leased trucks for a wide variety of applications as well as an on-site inventory of vehicles with bodies installed that can be operational soon after purchase. Service departments are available at all sites and service bays are equipped with the latest equipment and diagnostic tools.
“Xos is an undisputed leader in the commercial electric truck sector, so we are very pleased to offer their vehicles to our network for customers and to continue to help fleets of all sizes transition from diesel to electric,” said Romolo Gabrielli, general manager. Manager of Gabrielli.
About Xos, Inc.
Xos is a leading fleet service provider and original equipment manufacturer of Class 5-8 battery electric vehicles and the tools to adopt them. Xos vehicles and fleet management software are specifically designed for medium and heavy-duty utility vehicles that cover last mile and return-to-base routes of up to 270 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 effective on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, please visit www.xostrucks.com.
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Caution Regarding Forward-Looking Statements
This press release may contain “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, Intended Distribution Network of Inc. (“Xos”). These forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity “, “plan,” “may,” “should,” “will,” “would,” “will,” “will,” “will likely,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, but not limited to: (i) Xos’ ability to implement business plans , forecasts and other expectations, and to identify and realize additional opportunities, (ii) cost increases and shortages in the supply chain of components required to produce the vehicle chassis and battery system Xos, (iii) changes in the industries in which Xos operates, (iv) changes in laws and regulations affecting Xos’ business, (v) Xos’ ability to retain key personnel and hire additional personnel, (vi) the risk of a downturn and the changing regulatory landscape in the highly competitive electric vehicle industry; and (vii) the outcome of any legal proceedings that may could be brought against Xos. You should carefully consider the foregoing factors and the other risks and uncertainties described under “Risk Factors” included in Xos’ Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on May 9, 2022 and other documents filed by Xos with the SEC, copies of which may be obtained by visiting Xos’ Investor Relations website at https://investors .xostrucks.com/ or the SEC website at www.sec. govt. 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 place undue reliance on any forward-looking statements, and Xos undertakes no obligation and does not intend to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. Xos does not guarantee that it will meet its expectations.
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