Xos Receives Multi-Million Dollar Order for Armored EVs
David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
Yesterday, Los Angeles-based electric trucker-maker Xos announced it has secured a new contract for 150 vehicles with the Swedish armored transport company Loomis. Sara Broyles, Communications Director at Xos, declined to give specific on how much the deal was worth, but said the figure is in the multi-million-dollar range.
Under the terms of the deal, Xos will provide the chassis, powertrain, batteries, and the company’s proprietary battery management system. The armored truck bodies will be manufactured by Mississippi-based CITE Armored. Delivery is scheduled to take place over the course of the year, says Broyles.
The new deal expands on an existing pilot program in which Loomis purchased 20 trucks from Xos, which both companies billed as the world’s first fully electric class 6 armored vehicles. The trucks have been used to transport cash, valuables, or even gold. This week’s deal was also foreshadowed by an announcement last month that Loomis was installing Xos charging equipment.
For the EV truck start up, 150 units is a sizable order. Xos delivered just 88 vehicles in Q3 of 2022, generating a total revenue of $11 million and a net loss of $23 million. To break into the black, Xos will likely need quite a few more deals like this one or major gains on its software and infrastructure ventures. “We continue to see opportunities with nationwide parcel delivery fleets like FedEx Ground and within off-highway/specialty vehicles,” says Broyles, citing, in particular, the Xos’s recent partnership with forklift specialist Wiggins.
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David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
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