EXCLUSIVE: Xos Enters Strategic Agreement With UniFirst For Electric Delivery Vehicles

Xos announced a new agreement with UniFirst Corporation (NYSE: UNF) on electric delivery vans Wednesday morning.

What Happened: Xos Inc, which is merging with SPAC NextGen Acquisition Corp (NASDAQ: NGAC), announced an initial agreement with UniFirst.

Xos will deliver three electric step vans to UniFirst as part of a test program with the option for the customer to purchase additional vehicles.

“This partnership helps demonstrate Xos’s ability to provide advanced commercial electric vehicles to large last-mile fleets, established uniform rental and workwear customers throughout North America,” Xos Co-founder and COO Giordano Sordoni said in a statement to Benzinga.

The first vehicle under the agreement is expected to be implemented into UniFirst’s uniform service operations in California later this year.

“We’re very excited to partner with Xos and soon see our all-electric delivery vehicles on the road as we continue our commitment toward more sustainable delivery solutions,” UniFirst Executive Vice President Michael Croatti said.

Related Link: Electric Truck Maker Xos Going Public Via SPAC: What Investors Need To Know 

Why It’s Important: Xos is a leading manufacturer of electric Class 5 to Class 8 commercial vehicles. The company seeks to meet the demands of customers like UniFirst with last-mile, on-highway and vocational vehicles.

“Partnering with UniFirst is an important step forward in our long-term growth plans to expand electric delivery trucks into novel market segments while supporting fleet operators in a diverse set of industries across the country,” added Sordoni.

Xos, which is focused on electric medium and heavy-duty commercial vehicles, expects to close its SPAC merger in the summer of 2021.

Price Action: Shares of NGAC closed Tuesday at $9.93.

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.

Photo: Courtesy of Xos