Xos, Inc. Secures Purchase Order from Mission Linen Supply for New 22’ Stepvan Option

LOS ANGELES, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading provider of medium-duty electric vehicles, charging infrastructure, and fleet management software, is pleased to announce that it has received a purchase order from Mission Linen Supply, a leading provider of products and services to hospitality, healthcare, and industrial businesses, for 22’ stepvans.

Mission Linen Supply is a commercial laundry Company that was founded in 1930 and services the healthcare, hospitality, and industrial markets as well as many others. Mission Linen Supply has been a leader in the industry in terms of preserving natural resources and operating in a sustainable manner. Mission is excited to incorporate Xos' 100% battery-electric stepvans into their fleet.

"We are thrilled to partner with Mission Linen Supply on this significant step toward electric fleet adoption," said Dakota Semler, Chief Executive Officer of Xos. "Mission Linen Supply's commitment to sustainability aligns perfectly with Xos' mission. Our electric stepvans are setting new standards for the textile and linen industries, and we are confident that they will bring immense value to Mission Linen Supply's operations."

The order is for twelve Xos SV Stepvans, ideally suited for a variety of applications such as parcel delivery and linen services. Mission Linen’s delivery of stepvans will be some of the first 22’ body stepvans from Xos, further expanding use case options for the Xos SV platform.

“Mission Linen Supply has always been at the forefront of incorporating sustainable practices in our business model, and integrating Xos' electric vehicles is a natural extension of our commitment to provide environmentally friendly goods and services," explained Tony Mancuso, Vice President, Corporate Services at Mission Linen Supply.

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.

Contacts:

Xos Media Relations
press@xostrucks.com

ABOUT MISSION LINEN SUPPLY

Mission Linen Supply is a family-owned, privately held company and a leading provider of products and services to hospitality, healthcare, and industrial businesses. Founded in 1930 by George “Ben” Page, the company has grown from a one-man operation into a leading player in the linen rental and uniform business. With more than 90 years of industry knowledge and an experienced workforce, Mission is widely recognized for its ability to understand, anticipate, and meet its customers’ needs while providing environmentally friendly goods and services. Headquartered in Santa Barbara, California, the company employs more than 2,500 people in five western states.

Cautionary Statement Regarding Forward-Looking Statements

This website and other items we publish, including through social media outlets, may include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements, including but not limited to: (i) Xos, Inc.’s (“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 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’ inability to implement its business plan or meet or exceed its financial projections (ix) Xos’ ability to retain key personnel and hire additional personnel, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (xi) the outcome of any legal proceedings that may be instituted against Xos.

You should carefully consider the preceding factors and the other risks and uncertainties described in Xos’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Copies of Xos’ SEC filings may be obtained by visiting Xos’ Investors Relations website at investors.xostrucks.com or the SEC’s website at www.sec.gov. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a65b62db-dd2d-4918-aae5-fae8650bc718