Xos Offers Powertrain through Powered by Xos –Wiggins First Order

Xos, Inc., a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles (“Xos” or the “Company”) that recently announced a planned business combination with NextGen Acquisition Corporation (NASDAQ: NGAC) (“NextGen”), today announced that it has established Powered by Xos™ (“Powered by Xos”), a new powertrain division that will operate under the leadership of industry veteran Brett Wilson.

The new division will offer Xos’ powertrain technology along with design and integration expertise to other original equipment manufacturers (OEMs) in the commercial, off-highway and industrial markets. Xos will continue developing commercial electric vehicles built on its proprietary X-Platform and X-Pack through its growing OEM division, working closely with its longstanding and new customers.

Powered by Xos will provide customers with proprietary powertrain technology and robust components, purpose-designed for the rigors of commercial use. Xos’ powertrain offerings will include a broad range of solutions including high voltage batteries, power distribution and management componentry, battery management systems, system controls, inverters, electric traction motors, auxiliary drive systems, in addition to robust engineering, design, and integration services.

Powered by Xos has secured an order from repeat Xos customer Wiggins Lift Co., Inc. (“Wiggins”), bringing the total number of powertrain systems to 38 powertrain systems to be delivered this year.

Wiggins is a premier manufacturer of high-capacity forklifts for marine, industrial, agriculture, military, and other specialized applications. Wiggins initially ordered 20 powertrain systems for its Yard eBull product line to be used in ports to load and unload large cargo ships. To date, 14 of those systems have been successfully deployed in eBull units currently working in the Port of Stockton, California, prompting an additional order of 18 more systems. Wiggins may place additional orders pending finalization of current conversations for units scheduled to be deployed in Stockton, West Sacramento, and Los Angeles.

“At Xos, we recognize that the technology we have developed initially for last-mile and back-to-base operations can be deployed to off-highway applications that are also ripe for electrification, like heavy-duty forklifts which have short routes and easy access to charging,” said Dakota Semler, CEO and Co-Founder of Xos, Inc. “Customers like Wiggins Lift Co. have validated Xos’ technology for the off-highway markets. We look forward to building the Powered by Xos business segment alongside our growing OEM platform, and are pleased to have Brett join our team to help fleets of all kinds go electric.”

“I am thrilled to join the Xos team at this pivotal moment for electric mobility, and am particularly proud to join a team dedicated to providing intelligent mobility solutions to advance the electrification of industrial equipment,” said Mr. Wilson, Director of Powertrain Sales at Xos. “At Xos, we purpose-designed and built battery electric technology specifically for commercial and industrial applications, ensuring the technology is tailored to their unique use cases. With Powered by Xos, we’re excited to broaden the reach of our technology by offering it to other OEMs interested in transitioning to electric powertrains.”

In his new role, Mr. Wilson will focus on delivering customer solutions for EV powertrains in commercial, industrial, and off-highway applications. Prior to joining Xos, Mr. Wilson developed extensive sales, engineering, and leadership experience over 15 years at Cummins, Inc. He most recently served as a Sales Director for Cummins for the Western United States. Mr. Wilson’s Cummins career included customer-centric experience in field service, application engineering, distribution, sales, and operations.

Mr. Wilson is familiar with diverse customer markets, having primarily focused on off-highway sectors such as marine, oil and gas, construction, agriculture, and specialty use equipment. Mr. Wilson holds a B.S. in Mechanical Engineering from Virginia Tech, a M.S. in Mechanical Engineering from Colorado State University, and an Executive MBA from the University of Colorado.

Xos plans to close its previously announced business combination with NextGen in the third quarter of 2021. To learn more about Powered by Xos, feel free to visit www.xostrucks.com/powertrain.

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 www.xostrucks.com.

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