Loomis orders 150 electric armored vehicles from Xos for the US market

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Feb 01, 2023, 02:44 ET

STOCKHOLM, Feb. 1, 2023 /PRNewswire/ -- Loomis has signed an agreement with Xos, Inc. (NASDAQ: XOS) for the delivery of 150 armored electric vehicles (EVs) for the US market. By the end of 2022, Loomis had 20 armored EVs in the US from the same supplier, that successfully met the high-performance requirements in terms of safety, range and weight.

With the ambition to be the leading sustainable business partner in the industry, the transformation of Loomis' vehicle fleet is necessary. Loomis' largest climate impact comes from transportation and the company is therefore committed to reducing its fleet emissions. This order for additional EVs in the US is an important step to reduce the dependency on fossil fuels.

"We have made a commitment to reduce the carbon emissions from our business and have set out to lead the transformation in the industry. By significantly increasing the number of EVs in the US operations, we are on our way to both reducing our own emissions and helping our customers reach their targets while maintaining our high security standards," says Aritz Larrea, President and CEO. "We are proud that our collaboration with Xos puts us at the forefront. We will continue to partner with suppliers to find innovative solutions to reduce our carbon footprint while ensuring the safety of our employees and customers."

Loomis' sustainability targets are integrated into the business strategy and in the financing of the company. Loomis has issued Sustainability-linked bonds since 2021 under a Sustainability-Linked Finance Framework, with a linked target to reduce absolute carbon emissions by 20 percent by the end of 2025, compared with the 2019 level.

"Working with the industry-leading Loomis team for the last four years has been a pivotal highlight in our mission to help all fleets make the move to battery-electric operations," says Dakota Semler, Chief Executive Officer at Xos.

The ordered vehicles will be delivered gradually during the year and entered into operations from the second half of 2023. As the vehicle fleet is renewed globally, Loomis will continue to invest in electric and hybrid vehicles, as well as switch to lighter and safer vehicles.

This press release is also available on the company's website, www.loomis.com

February 1, 2023

CONTACT:

Kristian Ackeby
Chief Financial Officer
Mobile: +46 70 569 69 98
Email: [email protected]

Jenny Boström
Head of Investor Relations
Mobile: +46 79 006 45 92
Email: [email protected]

The following files are available for download:

https://mb.cision.com/Main/51/3706809/1818778.pdf

Loomis orders 150 electric armored vehicles from Xos for the US market

SOURCE Loomis AB