Xos Names W.W. Williams as Pilot Service Provider

Los Angeles, California, UNITED STATES


LOS ANGELES, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading technology company that provides fleet services, software solutions, and manufactures Class 5 through Class 8 battery-electric commercial vehicles, today announced it has named The W.W. Williams Company (“W.W. Williams”) as a pilot service provider in the state of Arizona. W.W. Williams is a leading services provider that offers mechanical service and repair, power generation, and warehousing and logistics services.

“As part of the WheelTime® Network, the nationwide service network for commercial trucks, W.W. Williams is a widely-known and respected leader in the service industry,” said Andy Curtin, Service Director at Xos. “We’re excited to bring on W.W. Williams as a pilot service provider, starting in Arizona, to provide our customers with world-class maintenance service and repair.”

As part of the agreement, W.W. Williams will provide maintenance service and repairs on Xos vehicles in regions of Phoenix, Ariz. and Tucson, Ariz. W.W. Williams will also support Xos customers with an inventory of in-stock Xos service parts.

“We’re thrilled to work with Xos and start providing maintenance and repair services to their customers,” said Mike Houston, National Sales Manager for W.W. Williams. “Their innovative, battery-electric commercial vehicles represent the future of trucking, so it’s important for us to continue growing our offerings with experience working on electric trucks.”

About Xos, Inc.
Xos is a leading technology company, fleet services provider, and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of up to 270 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, please visit www.xostrucks.com.

Xos Contacts
Xos Investor Relations
investors@xostrucks.com

Xos Media Relations
press@xostrucks.com

About The W.W. Williams Company, LLC
Founded in 1912, W.W. Williams is one of the nation's largest service, repair, and industrial distribution companies. A leader in servicing traditional and electric fleet equipment and partnering with OEMs and fleet owners, W.W. Williams offers warranty and non-warranty parts and services for on-highway and off-highway vehicles. Headquartered in Columbus, Ohio, W.W. Williams has 44 facilities and approximately 500 technicians across the United States and Mexico. W.W. Williams is majority owned by One Equity Partners, a private equity firm focused on growing industrial, healthcare, and technology businesses. Visit https://www.wwwilliams.com/ for more information.

Cautionary Statement Regarding Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding Xos, Inc.’s (“Xos”) expected product deliveries. 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) Xos’ ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) cost increases and supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iii) changes in the industries in which Xos operates, (iv) changes in laws and regulations affecting Xos’ business, (v) Xos’ ability to retain key personnel and hire additional personnel, (vi) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (vii) the outcome of any legal proceedings that may be instituted against Xos. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2022 and Xos’ other filings with the SEC copies of which may be obtained by visiting Xos’ Investors Relations website at https://investors.xostrucks.com/ or the SEC's website at www.sec.gov. 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.