Xos, Inc. Names Henry Kwon as Head of Investor Relations

26 Aug 2021

25-year automotive and financial industry veteran joins Xos in newly created role

LOS ANGELES, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Xos, Inc., a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, today announced Henry Kwon has been appointed to the newly created role of Head of Investor Relations. He began his role on Monday, August 16.

Mr. Kwon will be responsible for developing and executing an investor relations strategy to support the future growth of Xos. In this role, he will also build relationships with investors and analysts through ongoing conversations centered on the corporate, business, and financial objectives of the company. Mr. Kwon will report to Kingsley Afemikhe, Xos’ Chief Financial Officer.

“We are thrilled to welcome Henry Kwon to the Xos management team,” said Kingsley Afemikhe. “Henry has unparalleled experience in the automotive and financial industry and an established reputation among the investment community. His insight on scaling successful automotive companies across various continents and through numerous cycles will be critical as we soon begin our journey as a public company.”

Mr. Kwon brings more than 25 years of automotive and financial experience to Xos. He spent 18 years as an analyst covering the Asian automotive industry that has grown into both a global intellectual property center in Japan and Korea, and the largest end-market in China. His familiarity with the EV industry comes from Korea being a major global development center of the EV powertrain for U.S. automotive OEMs, and from significant manufacturing and distribution presence of Korean OEMs and suppliers in the U.S. and Mexico.

“I’m delighted to join Xos to help electrify the automotive industry for a cleaner future,” said Mr. Kwon. “From diesel to natural gas, now to fully electric, I believe the positive impact on the environment is profound and I’m excited to become a part of the team that is at the forefront of the electrification movement.”

About Xos, Inc.
Xos, Inc. is an electric mobility company dedicated to decarbonizing commercial trucking fleets. Xos designs and manufactures cost-competitive, fully electric commercial vehicles. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on last mile, back-to-base routes of less than 200 miles 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 and commercial EV counterparts. For more information, please visit www.xostrucks.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding Mr. Kwon’s responsibilities and the environmental impact of Xos’ products. 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) the effect of the announcement of Xos’ public listing on Xos’ business relationships, operating results, and business generally, (ii) risks that the public listing disrupts current plans and operations of Xos, (iii) the outcome of any legal proceedings that may be instituted against Xos, (iv) the ability to maintain the listing of Xos’ securities on a national securities exchange, (v) the price of Xos’ securities may be volatile due to a variety of factors, including changes in the industries in which Xos operates, variations in operating performance across competitors, changes in laws and regulations affecting Xos’ business, Xos’ inability to implement its business plan or meet or exceed its financial projections and changes in the capital structure, (vi) the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, and (vii) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section in the other documents filed by Xos from time to time with the SEC. 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 do 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.

Contacts
Xos Investor Relations
investors@xostrucks.com

Xos Media Relations
press@xostrucks.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b011639e-15ac-4786-9a22-2b9cc827f530