Xos Trucks, a startup specializing in the field of manufacturing fully electric commercial vehicles, just announced their $20M raise. Xos Trucks is developing cutting edge technologies and mobility solutions that exceed anything on the present market.
Why does this matter?
- In 2018, total gross US greenhouse gas emissions were 6,676.6 million metric tons of CO2 equivalent.
- The highest CO2-emitting vehicles are generally low volume performance vehicles or large trucks.
- The EPA and NHSTA issued greenhouse gas emissions and fuel economy standards for medium- and heavy-duty trucks. These standards will lower CO2 emissions by 1.1 billion metric tons and save vehicle owners fuel costs of about $170 billion.
- Xos Trucks will expand operations and scale up production of its electric skateboard chassis that is designed for Class 6 trucks, medium-duty commercial vehicles used in last-mile delivery.
- The truck doesn’t stop here — Xos Trucks it will continue developing the ET-One, which is a Class 8 heavy-duty truck that is capable of carrying 80,000 pounds with a range of 150 miles per charge.
- Xos’ electric delivery trucks have already been in use on UPS routes in the Los Angeles area for eight months. There will continue to be an increase in electric truck adoption across the US.
- Standards from the EPA and NHTSA will promote cleaner and more fuel efficient trucks by encouraging the development and deployment of new and advanced cost-effective technologies.
- Electric vehicle adoption will accelerate innovation in manufacturing, batteries, and infrastructure.