XL Fleet Celebrates Michigan Fleet Electrification Technology Center with Ribbon Cutting Event Featuring Governor Gretchen Whitmer

BOSTON–() – XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions for commercial and municipal fleets, today celebrated the grand opening of its Fleet Electrification Technology Center in Wixom, MI in the presence of the Governor of Michigan, Gretchen Whitmer, and other state legislative leaders. Governor Whitmer joined Dimitri Kazarinoff, CEO of XL Fleet, Founder and President Tod Hynes, CTO and VP of Engineering Mike Kenhard, Mayor of Wixom Patrick Beagle, and Executive VP of Michigan Economic Development Corporation Josh Hundt Held a press conference and a ribbon cutting ceremony at the new facility. In addition to the ribbon cutting ceremony, Governor Whitmer and XL Fleet executives offered comments highlighting the importance of expanding electrification in the commercial fleet industry while XL Fleet launched its latest hybrid and plug-in hybrid electric propulsion solutions for popular General vehicles Motors, Ford and Isuzu.

The grand unveiling of the Fleet Electrification Technology Center, which the company first announced In March 2021, highlighted XL Fleet’s plans to bring new green transportation jobs to Michigan, adding to the state’s commitment to sustainability under Governor Whitmer. During the ceremony, it was found that the new facility currently has 26 full-time employees in Michigan, including more than a dozen hired since early 2021. The company plans to expand its engineering team by 50% in 2021, with more than 50 new jobs expected to be created at the site over the next three years by giving the site strategic access to an abundance of talent in the Automobile and commercial vehicle construction is used in the region.

As the von Biden government continues to prioritize and promote the advancement of electric transport, XL Fleet is able to play a valuable role in accelerating the adoption of hybrid, plug-in hybrid and all-electric vehicles, as well as charging infrastructure, energy management and electrification Service solutions for commercial fleets across the state of Michigan and the United States for the years to come.

As the fourth US location of XL Fleet, the Fleet Electrification Technology Center is a state-of-the-art, nearly 25,000-square-foot facility designed to help the company expand its range of commercial fleet electrification solutions faster while meeting the growing demand for vehicle electrification across North America.

“The grand opening of our Fleet Electrification Technology Center in Michigan is a milestone for XL Fleet as we expand our presence in this extremely strategic location and enable us to add capacity to the exceptional talent we already have internally.” said XL Fleet CEO Dimitri Kazarinoff, “It is an honor to work with Governor Whitmer and other officials to celebrate and inaugurate our first facility in the country’s premier region for automotive innovation.”

XL Fleet Founder and President Tod Hynes added, “XL Fleet continues to achieve milestones with our proven and growing product line, strong strategic partnerships and world-class talent, enhanced by our new Michigan Fleet Electrification Technology Center. These milestones put XL Fleet in a unique position not only to benefit from the shift in the industry towards electrification, but also to continue to drive it forward. ”

“This XL Fleet investment will create nearly 50 well-paying, high-quality jobs and help us continue our economic start and get Michigan back to work,” said Governor Whitmer. “The new facility strengthens our reputation as a place that puts the world on wheels and is a leader in the future of mobility and electrification. We are excited to welcome XL Fleet to Michigan and look forward to the groundbreaking innovations that are being created here in our state. ”

XL Fleet has qualified for a Michigan state incentive of up to $ 400,000 on the leased facility from the Michigan Economic Development Corporation (MEDC), a grant designed to encourage the expansion of growing businesses into the state. “XL Fleet’s new R&D facility will drive new advances in future mobility and further demonstrate that Michigan is where manufacturing and technology come together,” said Josh Hundt, MEDC’s chief business development officer and executive vice president. “This project is in line with our strategic focus on expanding Michigan’s mobility and electrification ecosystem and promoting job growth with high wages. We look forward to working with our local partners to support XL Fleet’s investment. ”

In addition, XL Fleet worked with MICHauto, the country’s automobile and mobility cluster association, to expand the site. “MICHauto is excited to welcome XL Fleet to the Michigan automotive and technology community,” said Glenn Stevens, MICHauto’s executive director. “XL Fleet is strategically located in the densest cluster of next-generation electrification technology, engineering and advanced manufacturing worldwide. The opportunity to capitalize on talent, infrastructure, and quality of life across our state is unique to Michigan, and MICHauto looks forward to working with you to help your business grow. ”

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America with more than 250 million kilometers driven by customers including The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric propulsion systems can cut fuel consumption by up to 25 to 50 percent and reduce carbon dioxide emissions by up to 20 to 33 percent, thereby lowering operating costs and meeting sustainability goals, all while maintaining the Fleet operation is improved. The plug-in hybrid electric drive system from XL Fleet was named one of the best inventions of 2019 by TIME magazine. For more information, see www.xlfleet.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are generally identified by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “” plan, “predict,” “potential,” “appear,” “aim,” “future,” “outlook” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. These statements are based on various assumptions, whether or not mentioned in this press release, and management’s current expectations and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including, but not limited to, the failure to achieve the expected benefits from the business combination; the impact of pending and future legislation; the highly competitive nature of the company’s business and commercial vehicle electrification market; Litigation, complaints, product liability claims and / or negative publicity; Increases in costs or bottlenecks in the components or chassis required to support the company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; Data protection laws, data protection or data protection violations, or the loss of data; general economic, financial, legal, political, and business conditions and changes in domestic and overseas markets; the inability to convert its opportunity pipeline into firm orders; Risks associated with the company’s inception of business and the timing of anticipated business milestones; the impact of competition on the company’s future business; the availability of capital; and the other risks identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K, filed March 31, 2021, as amended and supplemented to 10-K / A, filed May 17, 2021, and other documents the company may file with the SEC in the future. Should any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied in these forward-looking statements. These forward-looking statements speak for the date only and the company expressly disclaims any obligation to update these forward-looking statements.

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