Xos, Inc. (XOS) stock is climbing high in the aftermarket – What’s going on?

Xos, Inc. (XOS) has seen an increase of 9.54% in the aftermarket. However, the last trading session concluded at $2.83 with a decrease of 3.08%.

New Independent Directors – Who are they?

XOS reported on 17th December 2021 that Anousheh Ansari and Alice K. Jackson have joined the company as new independent directors. Ms. Ansari is the chairperson of the board of directors of Sceye Inc. Moreover, she is also a director of Jabil Inc., and the President and Chief Executive Officer of the X PRIZE Foundation, Inc., a charity that develops and executes competition formats to address global issues.

Furthermore, Ms. Jackson is working as the President of the Colorado service region at Xcel Energy Inc. Not only this but she has served the Denver Museum of Nature and Science, Mile High United Way, Denver Metro Chamber of Commerce, Colorado Concern, and the American Red Cross CO/WY Chapter with her skills and abilities.

Purchase Order – Worth it?

On 14th December 2021, it was announced that Southern Glazer’s Wine & Spirits has signed a purchase order with XOS. This first test of electric trucks will be utilized to guide future XOS electric vehicle deployments across the Company’s national fleet. Moreover, the ten one-of-a-kind trucks will be launched from Southern Glazer’s Dallas/Ft. Worth distribution center in the second half of 2022 and employed as part of the company’s delivery fleet servicing the North Texas region. At the site, there are also hopes to install electric car charging stations.

So what?

XOS is happy to be the first North American wine and spirits distributor in the United States to include electric cars into the fleet on this scale. The team understands the environmental and efficiency advantages that electric cars may provide for the company. Last but not the least, the company is excited to add the first ten XOS trucks to the fleet in 2022, and they will keep looking for new ways to lessen the environmental impact.

Partnership with Merchants Fleet – Latest Updates

XOS announced on 13th December 2021 that Merchants Fleet, the nation’s fastest-growing fleet management firm, has formed a strategic collaboration with the company. With an intention to purchase EV step vans from Xos, Inc., the collaboration will allow Merchants Fleet to continue to grow its supply of electric fleet vehicles. The electric Xos step van is intended to fit a wide range of medium-duty bodies, making it an excellent fit for Merchants’ diverse portfolio of last-mile delivery clients across North America.

Both the companies are excited to work with one another in order to be creative and make a huge impact in the sector. Lastly, they think that by adding Xos step vans to the fleet gives the customers a long-lasting, dependable, and cost-effective choice, particularly for last-mile delivery services.