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

LOS ANGELES, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS) is pleased to announce that its stepvans are now eligible for the Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles Program (iMHZEV) from the Government of Canada. This significant development marks a milestone in the company's commitment to advancing the adoption of electric vehicles in Canada.

The iMHZEV Program, administered by Transport Canada, aims to incentivize the adoption of medium- and heavy-duty zero-emission vehicles (ZEVs) by Canadian businesses. Eligible Canadian purchasing and leasing organizations can benefit from iMHZEV Program incentives, promoting sustainability and environmental responsibility in the commercial vehicle sector.

Effective Friday, September 22, 2023, Canadian businesses purchasing a model year 2022 or 2023 Xos SV class 6 battery-electric stepvan are eligible for an impressive incentive of up to $100,000 CAD.

Dakota Semler, CEO of Xos, expressed his enthusiasm about this opportunity, saying, "We are proud to have our stepvans recognized as eligible vehicles for the iMHZEV Program by the Government of Canada. This initiative aligns perfectly with Xos' mission to decarbonize commercial transportation. Our customers in Canada now have a compelling incentive to make the switch to electric vehicles and contribute to cleaner, healthier air."

To take advantage of this outstanding incentive, eligible organizations are encouraged to explore Xos's range of battery-electric stepvans and contact Xos for more information.

About Xos, Inc. 
Xos is a leading technology company, fleet services provider, and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. 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 of up to 270 miles or less per day. 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.