Xos, Inc (XOS)

[WeTheMarket]

The Xos Hub™ Gets Major Upgrades and a Purchase Order from Xcel Energy
January 31 2024 - 07:24AM
https://ih.advfn.com/stock-market/NASDAQ/xos-XOS/stock-news/93174846/the-xos-hub-gets-major-upgrades-and-a-purchase-or

Xos, Inc. (NASDAQ: XOS), a leader in the electrification of fleets, today announced the next generation of their mobile charging unit, The Xos Hub™. This rapidly deployable charging unit is designed to help expedite the electrification of fleets. Xcel Energy, a leading clean energy provider, has signed a purchase order securing two of the new Hubs to use at its remote worksites.
Xos Hub™ Charging Passenger Vehicles

The new generation of the Xos Hub offers 280kWh of energy capacity and is notably more powerful than previous generations, with charging capability up to 160kW. This is up to four times the charge rate compared to previous iterations.

The Xos Hub has four standard CCS1 charge heads and weighs less than 10,000 lbs, eliminating the need for a commercial driver's license to transport the Hub. This version of the Xos Hub is also substantially more affordable at a lower starting price compared to previous iterations.

The Hub can be powered by existing power infrastructure at depots or facilities without the need for upgrades. Alternatively, the Hub can also be charged by a CCS1 inlet from a DC fast charging station onsite or in the field. This makes the Hub a more versatile solution for several applications, including stopgap charging for EV fleets, remote and rescue charging, semi-permanent charging, or backup power during grid outages.

“The Xos Hub is a game changer for fleets looking to electrify,” said Xos CEO, Dakota Semler. “It’s a cost-effective solution that can be deployed quickly and easily. With the lower weight and smaller footprint, it's an even more flexible system for mobile charging.”

With the ability to be charged from the grid during off-peak hours, in some locations the Xos Hub can save customers up to 40% on electricity costs compared to standard DC Fast Chargers, especially in the summer months when peak rates are typically higher. This combined with lower installation costs makes the Xos Hub a significantly more affordable charging solution for EV fleet operators in some applications.

To help achieve its clean transportation vision, Xcel Energy plans to use temporary charging at construction sites where zero-emission vehicles are deployed. Temporary charging will serve as a remote operating base for electric vehicles, enabling the electrification of worksites. Xcel has signed a purchase order for two new Xos Hubs to use for these applications.

The Xos Hub can power electrified construction equipment for more than one shift, eliminating the need to transport offsite for charging. Another innovative use of the Xos Hub is as a rescue vehicle for EVs that run out of charge, saving the time and cost of towing. By bringing the Hub to the site, the vehicle can be charged then and there, introducing a new level of convenience and efficiency in EV operations.

“By 2050, Xcel Energy is committed to delivering zero-carbon fuel for all vehicles in the states we serve, and a key part of that vision is electrifying our own fleet,” said Jeff Savage, Xcel Energy’s senior vice president, chief audit and financial services officer. "We’re excited about our clean transportation future, and the ability to charge our electrified equipment at remote worksites is another step we’re pursuing to reduce carbon emissions."

Xos is committed to helping fleets make the transition to electric vehicles easier and more cost-effective. With the new generation of the Xos Hub™, fleets can now take advantage of an even more powerful and affordable mobile charging solution.

About Xos, Inc.
Xos is a leading technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. 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. The company leverages its proprietary technologies to provide commercial fleets with battery-electric 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, visit www.xostrucks.com.

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About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on X, formerly known as Twitter, and Facebook.