60% increase in charger output from first generation Hub results in faster charge times for EVs

Introduction of software and telematics unit optimize peak and off-peak charging schedules to reduce electricity costs

First production Hub currently in use with major parcel delivery operator

LOS ANGELES, April 27, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, today unveiled the second generation Xos Hub™ (“the Hub”), a rapidly deployable, mobile charging solution that enables flexible and scalable access to DC fast charging without the need for permanent infrastructure.

The second generation Hub features integrated battery storage with an energy capacity of 390 kWh and an increase in charger output by 60%, from 25kW to 40kW, resulting in faster charge times for EVs. The five CCS 1 chargeheads enable the Hub to charge up to five electric vehicles at once and are compatible with both commercial and passenger electric vehicles.

Additional features of the Hub include a 43% shorter footprint than its predecessor, from 28’ to 16’, and enhanced safety features such as the addition of circuit protection and an emergency stop button. The introduction of software and a telematics device help determine the best charging times for the Hub based on off-peak and peak hours, enabling a full charge in five hours and helping mitigate electricity costs.

“We consistently hear from our customers that charging infrastructure remains the biggest barrier to taking delivery of our electric vehicles, so we’re incredibly excited to introduce the new Xos Hub and provide an easy, available, and mobile solution for DC fast charging,” said Danny Marquez, Director of Xos Energy Solutions and Products at Xos. “The Hub is an ideal solution for fleets that will help alleviate infrastructure delays and accelerate widespread fleet electrification.”

The second generation Xos Hub was designed, engineered, and tested over a 12-month period with customer feedback and requirements in mind. Similar to the recently launched 2023 Xos Stepvan, technology highlights on the Hub include over-the-air software updates and seamless integration with the Xosphere^® fleet management platform.

“We designed and built the second generation Xos Hub to fit an important need of our customers for flexible, scalable, and quick-to-deploy charging infrastructure,” said Scott Zion, Head of Engineering at Xos. “To ensure the Hub’s reliability and durability, we conducted comprehensive testing of electrical, thermal, and vibrational components to confirm a robust product that can be safely transported from site to site while protecting the internal batteries and power electronics.”

Additional testing is underway to make the Hub eligible for federal and state funding. Currently, the first unit of the second generation Xos Hub is in operation with a major parcel delivery operator in Northern California.

The Xos Hub is available for lease or purchase now. For more information, please contact sales@xostrucks.com or call (818) 316-1890.

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.

Contacts
Xos Investor Relations
investors@xostrucks.com

Xos Media Relations
press@xostrucks.com

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “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 expectations and timing related to manufacturing quality, production yields, product deployments and launches; sufficiency of existing cash reserves; customer acquisition and order metrics. These forward-looking statements may be identified by the words “believe,” “plan,” “project,” “potential,” “seem,” “seek,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “target,” “opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. 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) Xos’ limited operating history, (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iv) Xos’ ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos’ business, (viii) Xos’ ability to implement its business plan or meet or exceed its financial projections, (ix) Xos’ ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry, (xi) Xos’ ability to service its indebtedness, (xii) macroeconomic and political conditions, and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023 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.

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