Xos ET-1 Formerly Thor Signs Deal with Loomis

Xos Trucks announced  that it has officially rebranded. Launched two years ago under a different name, Xos was the first electric truck company to show its prototype class-8 truck, the ET-1, could successfully transport up to 80,000 lbs across 100 miles on a single charge.

The rebrand represents a new stage for the electric vehicle startup as they begin to look at product offerings in their pipeline that move beyond their core business of building commercial vehicle hardware.

“Electrification encompasses so much more than just hardware, which gives us ample opportunities to expand in directions we weren’t thinking about in the early days of the company,” said Gio Sordoni, COO and co-founder of Xos. “It’s a super exciting time now as the company continues to evolve and grow, so we couldn’t be happier about this change.”

Xos is short for exosphere — the outermost section of the planet’s atmosphere — and is representative of the company’s investment in developing cutting edge technologies and mobility solutions that exceed anything on the present market.

“We see Xos as the ‘os’ for fleets—the intersection between energy and software,” said Dakota Semler, CEO and co-founder of the company. “That the name is cheeky, playful, and maybe slightly irreverent doesn’t hurt either.”

Xos signed an agreement with Loomis for an order for 100 armored vehicles to be used primarily in California.

Providing cash-handling products and services to financial institutions and businesses, Loomis is the largest integrated cash distribution network in the U.S. with nearly 200 locations, 9,000 employees and more than 3,000 vehicles.

The agreement underscores Loomis’ commitment to sustainability and Xos’ commitment to helping to electrify fleet vehicles where EV technology can easily integrate into vehicles used for local, predictable routes. “Electric vehicles make a lot of sense for cash-in-transit companies,” said Dakota Semler. “They do a lot of idling in city centers as money is loaded in and out of the vehicles. We’re proud that Loomis has chosen Xos as their exclusive electric armored vehicle supplier and we look forward to a long, fruitful partnership.”

XOS is an LA-based transportation lab tackling fleet management problems. XOS’ first product was a fully-electric semi called the ET-One. They have recently closed pilot programs with UPS and an exclusive deal for electric armored vehicles with cash-in-transit company Loomis.

Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis customers are banks, retailers and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2018 of SEK 19.2 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.

 

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