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Xos Customers in Canada Can Save $100,000 CAD with iMHZEV Incentive

The iMHZEV Programme, run by Transport Canada, intends to encourage Canadian companies to purchase medium- and heavy-duty zero-emission vehicles (ZEVs).

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Xos Customers in Canada: The Canadian government’s Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles Programme (iMHZEV) now accepts stepvans as eligible vehicles, according to Xos, Inc. (NASDAQ: XOS). This important breakthrough represents a turning point in the company’s efforts to accelerate the use of electric vehicles in Canada.

The iMHZEV Programme, run by Transport Canada, intends to encourage Canadian companies to purchase medium- and heavy-duty zero-emission vehicles (ZEVs). The iMHZEV Programme incentives are available to eligible Canadian leasing and purchase organisations, fostering sustainability and environmental awareness in the commercial vehicle industry.

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Xos Customers in Canada Can Save $100,000 CAD

On Friday, September 22, 2023, Xos customers in Canada enterprises can take advantage of a remarkable incentive of up to $100,000 CAD when they buy a model-year 2022 or 2023 Xos SV class 6 battery-electric stepvan.

“We are proud to have our stepvans recognised as eligible vehicles for the iMHZEV Programme by the Government of Canada,” said Dakota Semler, CEO of Xos, in reference to this opportunity. The goal of Xos to decarbonize commercial transport is nicely complemented by this project. Our Canadian clients now have a strong incentive to switch to electric cars and help create a better, cleaner environment.

Eligible organisations are urged to look through Xos’s selection of battery-electric stepvans and get in touch with Xos for additional details in order to take advantage of this fantastic offer.

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Regarding Xos, Inc.

Leading original equipment manufacturer of Class 5 through Class 8 battery-electric cars, Xos is also a fleet services provider. For medium- and heavy-duty commercial vehicles that operate on last-mile, back-to-base routes of up to 270 miles or fewer per day, Xos vehicles and fleet management software are specifically designed. Utilising its in-house developed technologies, the company offers commercial fleets battery-electric cars that are less expensive in terms of total cost of ownership (TCO) and easier to maintain than those powered by internal combustion engines. Visit the website at www.xostrucks.com for further details.

Contacts Xos

investors@xostrucks.com Xos Investor Relations

Press Contact for Xos Trucks press@xostrucks.com

Xos Sales & Business Development

Sales@Xostrucks.com

Cautionary Forward-Looking Statements:

The United States Private Securities Litigation Reform Act of 1995’s “safe harbour” clauses are applied to “forward-looking statements” in this press release. These predictions and timelines for manufacturing quality, production yields, product deployments and launches, the sufficiency of existing cash reserves, client acquisition and order metrics are just a few examples of the forward-looking statements in this article. 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 as well as any other statements that predict or indicate future events Predictions, forecasts, and other statements about future events that are made in a forward-looking manner involve risks and uncertainties because they are based on current estimates and assumptions.

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.

The aforementioned factors, along with other risks and uncertainties listed under the heading “Risk Factors” 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, as well as Xos’ other filings with the SEC, copies of which may be obtained, expressly disclaim all forward-looking statements contained in this press release.

Other significant risks and uncertainties that could cause actual events and results to vary differ from those expressed in the forward-looking statements are identified and addressed in these filings. A forward-looking statement is only as accurate as the day it was made. Readers are advised not to place undue reliance on forward-looking statements, and Xos disclaims any duty to update or alter them as a result of new information, future developments, or other factors. There is no guarantee that Xos will live up to expectations.

Sweta Bharti
Sweta Bhartihttp://eduvast.com
Sweta Bharti is pursuing bachelor's in medicine. She is keen on writing on the trending topics.

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