New commitment to purchase Xos EVs moves Merchants Fleet closer to 50% electrification of mobility fleet portfolio by 2025, 50% electrification of its managed fleet portfolio by 2030.
LOS ANGELES – Xos, Inc (NASDAQ: XOS), a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, today announced a strategic partnership with Merchants Fleet, the nation’s fastest-growing fleet management company. The partnership will enable Merchants Fleet to continue to expand its offering of electric fleet vehicles with an intent to buy EV step vans from Xos, Inc. The first 10 step vans are expected to be delivered to Merchants Fleet in 2022.
The electric Xos step van is designed to accommodate an extensive variety of medium-duty bodies, making it an ideal solution for Merchants’ extensive portfolio of last-mile delivery clients throughout North America.
“Merchants is eager to partner with emerging OEMs like Xos, who are innovative and making a significant impact in the industry,” said Hari Nayar, Merchants Fleet Director of Electrification and Sustainability. “Adding Xos step vans to our fleet provides our clients with a durable, reliable, and cost-effective option, especially for last-mile delivery services.”
Merchants is driving fleet electrification throughout North America, aiming to have 50% of its mobility fleet electric by 2025 and 50% of its clients’ fleet electric by 2030. As part of its ‘Electrify Fleet’ initiative, the company has also launched a comprehensive Adopt EV program, designed to help guide businesses through each step of the fleet electrification process—from assessing needs to purchasing the right vehicles, to charging options and infrastructure support.
Xos recently attended Merchants’ 2021 Fleet Summit in September, which drew more than 200 fleet experts from around the country, to discuss electrification and the future of fleet. Xos step vans were displayed at the event, where clients had the opportunity to experience the fully-functional vehicles in person.
“We are thrilled to partner with Merchants Fleet and provide them with a superior alternative to traditional fossil fuel vehicles,” said Jose Castaneda, Xos Vice President of Business Development. “The need for clean fleet and logistics solutions is gaining momentum as both the public and private sector are moving towards a net-zero carbon economy.”
