Xos
XOS | Market Cap: $32.1M (07/13/26)
Industry:
Automotive Manufacturing

DESCRIPTION

Xos makes and sells electric commercial vehicles and energy products for fleet operators in North America. Xos operates three product lines: Xos Vehicles, Xos Hub, and Powered by Xos. The vehicles business sells Class 5 and Class 6 battery-electric step vans and strip chassis designed for last-mile, back-to-base routes, with key customers including UPS and FedEx independent service providers. The Xos Hub is a mobile, deployable unit combining DC fast charging and battery storage, designed for fleet operators who face delays in fixed charging infrastructure. Hub customers include Waymo, Caltrans, and several large utilities. Powered by Xos sells electric powertrain kits to third-party OEMs, primarily Blue Bird, the leading alternative fuel school bus manufacturer in the U.S. All manufacturing takes place at a facility in Byrdstown, Tennessee. Xos sells directly to fleet customers through a dedicated sales force. Revenue is recognized upon delivery and acceptance. The Hub is Xos's highest-margin product, while large national fleet vehicle orders carry lower margins due to structured long-term pricing. Xos is also developing the MDXT, a Class 5–6 chassis cab platform targeting a broader set of vocational use cases, sharing over 90% of components with the existing step van and targeting production in Q3 2026. Xos bundles its Xosphere fleet management software with vehicles, covering telematics, charging optimization, and over-the-air updates.

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