XOS - Xos team up with Merchants Fleet to grow EV portfolio
Xos (NASDAQ:XOS) announced a strategic partnership with Merchants Fleet. 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. The first 10 step vans are expected to be delivered to Merchants Fleet in 2022. The 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. 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.
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Xos team up with Merchants Fleet to grow EV portfolio