FedEx Ground Operators Order 120 Xos Trucks For 2021 and 2022 Delivery

Xos’ planned delivery of 120 electric vehicles to FedEx Corp Independent Service Providers (ISPs) in 2021 and 2022 to support further electrification of FedEx fleet

Xos, Inc. manufacturer of fully electric Class 5 to Class 8 commercial vehicles that has announced a planned business combination with NextGen Acquisition Corporation (NASDAQ: NGAC, “NextGen”), said that Xos has signed agreements with FedEx Ground operators to deliver 120 zero emission electric trucks across 35 different FedEx Ground operators based in California, New York, New Jersey, Massachusetts, and Texas. Delivery of these vehicles is expected to occur in Q4 2021 and 2022. Discussions regarding additional vehicle deliveries in 2022 and 2023 to these customers, as well as additional FedEx Ground operators in these and other states, are ongoing.

“Working with FedEx Ground operators, who operate every day within FedEx’s global delivery and logistics network, both validates our business model and our innovative, cost-efficient, zero emission and operationally ready products, which are tailored for commercial fleets focusing on last-mile delivery,” said Dakota Semler, Xos’ Co-Founder and CEO. “We are pleased to support the electrification of FedEx’s medium duty pickup-and-delivery fleet across several U.S. states as FedEx continues to advance sustainability efforts and work toward achieving carbon emissions goals across its global business. We are thrilled with our current FedEx Ground relationships and look forward to expanding them further among the 4,000 FedEx Ground operators who support the FedEx network.”

“We are delighted to provide our FedEx Ground customers with our best-in-class electric trucks. We look forward to continuing to support them in meeting their site infrastructure and charging needs at vehicle depots in addition to offering Fleet-as-a-Service and financing alternatives to streamline their purchasing, maintenance, and operating experience,” said Gio Sordoni, Xos’ Co-Founder and COO.

Shareholder Meeting Set for August 18, 2021

NextGen recently announced that its extraordinary general meeting of shareholders to approve, among other things, the proposed business combination, will be held in a virtual format and physically at the offices of Skadden, Arps, Slate, Meagher & Flom LLP located at One Manhattan West, New York, NY 10001 on August 18, 2021 at 9:00 a.m. Eastern Time or virtually via live webcast at https://www.cstproxy.com/nextgenacq/sm2021. The Board of Directors of NextGen recommends that shareholders of record who owned NextGen’s shares as of July 2, 2021 – even if they have since sold their shares – vote by 11:59 p.m. Eastern Time on August 17, 2021 to ensure the deal proceeds in a timely manner. More information on how to vote can be found at https://www.nextgenacq.com/vote.html.

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