HDXT heavy-duty truck targeting late 2025 launch; 600+ medium-duty delivered.
Key Milestones
Xos founded as Thor Trucks in Los Angeles by Dakota Semler and Giordano Sordoni; targets fleet customers with modular X-Pack battery architecture for medium- and heavy-duty step-vans and tractors
Xos (then Thor Trucks) reveals first MD/HD chassis built around the X-Pack modular battery — proprietary structural battery + powertrain skateboard offered as 'fleet-as-platform' to step-van and tractor customers
Xos announces SPAC merger with NextGen Acquisition Corp at ~$2B equity value; pre-orders reported at ~6,000 vehicles between FedEx Ground ISPs, UPS and Loomis
Xos completes SPAC and lists on Nasdaq (XOS) at $300M cash on close; first FedEx Ground ISP deliveries of MDXT step-vans in Southern California
Loomis armored fleet begins deployment of Xos step-vans across US metros — first major fleet contract for Xos's MDXT chassis; Loomis order eventually grows to ~300 units
UPS adds Xos step-vans to last-mile fleet across LA and Atlanta; cumulative MDXT deliveries cross 100 units — Xos becomes the most-deployed US-pure-play medium-duty EV builder by units
Xos Hub mobile DC fast-charger product launched: 105 kW skid-mounted unit for fleet customers without depot infrastructure; Hub revenue offsets thin truck margins as Xos pivots toward services
Xos restructures: ~30% workforce reduction; pivots from in-house chassis manufacturing to powertrain integration / energy services; HDXT Class 8 program slips toward late 2025
Xos receives Nasdaq delisting notice for minimum bid price; 1-for-30 reverse split announced — second cycle of distress signals; Xos stays listed but liquidity thin