FedEx Ramps Up Vehicle Electrification with Xos Trucks - Natural Gas Intelligence naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
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Los Angeles-based
Xos, a relatively unknown, new electric truck startup, has agreed to go public at a $2 billion valuation, via a SPAC offering, according to reports. The company which had just raised $20M will be acquired in a reverse merger with
NextGen Acquisition Corp. The deal will raise $220M in funding, with investors reportedly includi
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In an effort to overcome the cost barriers to buying electric vehicles, electric truck maker Xos Trucks Inc. on Tuesday announced a partnership with DLL to help finance the leasing of its all-electric commercial vehicles.
DLL is a global asset finance company and subsidiary of Rabobank Group.
The Xos X-Lease program will offer two types of full-service leases of the company s electric vehicles and charging equipment to fleets, helping them reduce energy, field and maintenance costs, a spokesperson said in an email to FreightWaves.
An operating lease will allow fleets to lease an electric vehicle without significant upfront investment. A capital lease targets the same goal but on a longer term.