Xos, Inc. Makes Initial Delivery of 100% Battery-Electric Stepvans to Newly Signed Dealer Gabrielli Truck Sales, Marking Dealership Entrance in Northeast United States

04 Aug 2022

With new dealership agreement, Xos vehicles will be available across New York, New Jersey, and Connecticut via Gabrielli locations

LOS ANGELES, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading fleet services provider and manufacturer of Class 5 through Class 8 battery-electric vehicles, today announced it has signed a dealership agreement and initial delivery with Gabrielli Truck Sales (“Gabrielli”) to offer the suite of Xos vehicles to its customers across New York, New Jersey, and Connecticut. Gabrielli will be selling Xos’ flagship Class 5 and 6 stepvan, along with its recently-unveiled medium-duty Class 6 and 7 chassis cab MDXT™ and heavy-duty Class 8 electric trailer HDXT™, at 17 of its 19 locations across the Northeast.

“We’re thrilled to expand our footprint in the Northeast with this dealership agreement with the award-winning Gabrielli team,” said Jessica Savage, Head of Distribution at Xos. “Having been around since 1966, the Gabrielli team is widely recognized for its long-standing truck sales and service leadership in the east.”

Gabrielli is a family-owned truck sales and services dealership with 19 locations across the Northeast. The company offers new, used, and leased trucks intended for a wide variety of applications along with on-site inventory of vehicles with installed bodies that can be up and running shortly after purchase. Service departments are available at all locations and service bays are equipped with the latest diagnostic equipment and tools.

“Xos is a clear leader in the commercial sector for electric trucks, so we’re very excited to offer their vehicles to our network for customers and continue helping fleets of all sizes make the move from diesel to electric,” said Romolo Gabrielli, General Manager of Gabrielli.

About Xos, Inc.
Xos is a leading fleet services provider and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles and the tools to adopt them. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-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-efficient 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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Cautionary Statement Regarding Forward-Looking Statements
This press release 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”) expected distribution network. 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’ ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) cost increases and supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (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 downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (vii) 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 fiscal quarter ended March 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on May 9, 2022 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.