Benzinga · Jul 14, 2021
EXCLUSIVE: Xos CEO Talks Flex Manufacturing, Customer Reach, Vehicle Deliveries On 'SPACs Attack'
Xos is set to go public via special purpose acquisition company NextGen Acquisition Corp (NASDAQ: NGAC) in a deal that values the combined company at $2 billion. Xos co-founder and CEO Dakota Semler appeared on Benzinga's YouTube show "SPACs Attack" for an exclusive interview Wednesday. The What & The Why: Xos is a manufacturer of medium- and heavy-duty commercial electric vehicles, Semler told Benzinga. He said he recognized the opportunity to launch Xos after experiencing the challenges of operating a diesel fleet firsthand as a fleet operator, he said. The ever-changing emissions regulations and the increasing price of fuel were just a few of the headwinds challenging diesel fleet operation, he said. Xos builds its own battery systems, which control and power its own vehicles on the company's own chassis, Semler said. The company already has trucks on the road, he said, adding Xos is at the stage where it's putting capital to work in order to scale manufacturing and meet customer demand. Customer Reach: ...
