Commercial Vehicle Group (CVGI) Announces Partnership with Xos, Inc.

Commercial Vehicle Group (NASDAQ: CVGI), a global leader in the creation in electric systems, has announced a partnership with leading state-of-the-art commercial electric vehicle manufacturer Xos, Inc. to develop sustainability initiatives that champion innovation and best-in-class solutions for growing macro-trends in the marketplace.

This collaboration represents CVG's commitment to offer unparalleled products and services to customers in the commercial trucking industry. Beginning in 2020, CVG started executing an entrepreneurial plan to diversify its offerings to compete in an evolving market reflecting trends in e-commerce, last-mile delivery, and electric vehicle innovation.

CVG's partnership offers Xos, Inc. full-service design and manufacturing including product sampling, prototypes, schematic electric system design, testing, and validation to support a cutting-edge fleet of medium- to heavy-duty, zero-emissions, electric vehicles.

"We are very happy to be partnering with Xos, Inc. to design and launch leading technology with the X-Platform 1 within the electric vehicle industry. The electric vehicle industry is exploding with new platforms across many vehicle types, and with CVG's storied expertise, we see our many strengths and natural advantages as a prime benefit to our partnership. With over 40 years of experience in helping vehicle makers launch outstanding vehicles quickly, CVG provides assistance from concept, to prototype, showing our commitment to our diverse customer base," said CVG President and CEO, Harold Bevis.

"We're thrilled to partner with such a long-standing, experienced leader in the commercial vehicle space," said Xos, Inc. co-founder and COO Giordano Sordoni. "CVG has been innovating for more than two decades, so we look forward to supporting them as they increase their focus on electrification and continue leading the path of innovation within the commercial vehicle space for years to come."

CVG operates in 30 global locations. The company's continued innovation and engineering expertise allow for CVG to adapt strategically and invest in new markets. The partnership with Xos, Inc. and correlating initiatives reflect the company's ability to innovate with agility in growing markets while maintaining consistency and dependability across the industry.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Central Securities (CET) Releases Report to Stockholders
• Belite Bio (BLTE) Announces $25 Million Registered Direct Offering