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Citywide commercial loading zones for zero-emission delivery vehicles incentivize renewable energy use
Mayor of LA Eric Garcetti speaking in front of an Xos electric vehicle at the California Clean Air Day event on Wednesday, October 6th
LA City Councilman, Former State Senator, and 2022 LA mayoral candidate, Kevin de León, in front of an Xos electric vehicle on Wednesday, October 6
LOS ANGELES, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, attended a California Clean Air Day event on Wednesday, October 6th, alongside Mayor of LA Eric Garcetti, to promote renewable energy and the use of clean delivery vehicles in Los Angeles.
“It’s our responsibility to ensure that future generations will inherit a city where our air, water, and natural resources will be protected and preserved,” said Mayor Eric Garcetti in a statement. “Clean Air Day gives us an opportunity to put our principles into practice with a cleaner transportation and goods movement—to leave a healthier world for our children and grandchildren.”
In July, Los Angeles City Council unanimously adopted an ordinance to create commercial loading zones exclusively available for zero-emission commercial delivery vehicles.
“We’re proud to see the city of Los Angeles, our hometown and where our headquarters are located, take on this important initiative of creating zero-emission commercial loading zones,” said Giordano Sordoni, Co-Founder and Chief Operating Officer of Xos, Inc. “This is one step in the right direction of ridding the air we breathe of harmful emissions. We’re excited it’s happening in Los Angeles, a huge metropolitan city and a widely known contributor to pollution, so we’re eager to see other cities follow suit.”
Present at the event was also Kevin de León, a former State Senator, current LA Councilmember, and 2022 Mayoral candidate, who authored Senate Bill 100, also known as the 100% Clean Energy Act, among other governmental officials.
Los Angeles has a target of being carbon neutral by 2050, with a zero carbon grid, zero carbon transportation, zero carbon buildings, zero waste, and zero wasted water.
About Xos, Inc.
Xos, Inc. is an electric mobility company dedicated to decarbonizing commercial trucking fleets. Xos designs and manufactures cost-competitive, fully electric commercial vehicles. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on last mile, back-to-base routes of less than 200 miles per day. The company leverages its proprietary technologies to provide commercial fleets with zero-emission vehicles that are easier to maintain and more cost efficient on a total cost of ownership (TCO) basis than their internal combustion engine and commercial EV counterparts. For more information, please visit xostrucks.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the environmental impact of Xos’ products. 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 in this press release, including but not limited to: (i) the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) the outcome of any legal proceedings that may be instituted against Xos, (iii) the ability to maintain the listing of Xos’ securities on a national securities exchange, (iv) the price of Xos’ securities may be volatile due to a variety of factors, including changes in the industries in which Xos operates, variations in operating performance across competitors, changes in laws and regulations affecting Xos’ business, Xos’ inability to implement its business plan or meet or exceed its financial projections and changes in the capital structure, and (v) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section in the other documents filed by Xos from time to time with the Securities and Exchange Commission. These filings 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. Xos does not give any assurance that it will achieve its expectations.
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