Penske Truck Leasing Adds Xos Stepvan to its Electric Fleet Offering

LOS ANGELES, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet electrification services provider, today announced Penske Truck Leasing has added Xos 100% battery-electric trucks to its fleet. Penske will deploy the trucks with multiple customers in various industries.

"We are very pleased to build on our growing portfolio of all-electric vehicles with the addition of the Xos Stepvan," said Paul Rosa, Senior Vice President of Procurement and Fleet Planning for Penske Truck Leasing.

The vehicles that Penske has added are the Xos Stepvan ("Stepvan"), a 100% battery-electric Class 6 vehicle purpose-built for commercial applications. The Stepvan can travel up to 150 miles on a single charge, features a GVWR of up to 23,000 pounds, and comes in available body sizes of 16’ or 18’. Depending on charger specifications, the vehicle charge time with DC fast charging ranges from 110 to 120 minutes. Additional specifications include a 178-inch wheelbase, 347 kW maximum horsepower, and max torque of 1,737 ft-lbs.

"We’re proud to partner with Penske on their journey to a fully-electric fleet operation," said Dakota Semler, Chief Executive Officer at Xos. "Penske and Xos share similar core values around our commitment to customers and a dedication to excellence, so our partnership is a natural fit. We look forward to building our relationship for years to come."

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.

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About Penske Truck Leasing
Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Pennsylvania. A leading provider of innovative transportation solutions, Penske operates and maintains more than 440,000 vehicles and serves its customers from more than 940 maintenance facilities and more than 2,600 rental locations across North America. Solutions from Penske include full-service truck leasing, fleet maintenance, truck rentals, used trucks, and a comprehensive array of technologies to keep the world moving forward. Visit PenskeTruckLeasing.com to learn more.