LOS ANGELES, CA – Build Capital Partners, a prominent private equity firm dedicated to fostering sustainable innovation and growth, proudly announces its participation in the recent $20 million funding round for XOS Trucks. Recognized for its cutting-edge electric commercial vehicles, XOS Trucks will leverage this capital to accelerate product development, enhance manufacturing capabilities, and expand its customer base across multiple industries.
“XOS Trucks is transforming the commercial transportation sector by delivering reliable, zero-emission solutions,” said Kasey Evans, Partner at Build Capital Partners. “From the moment we learned about their vision and engineering prowess, we knew this was an opportunity to support a company at the forefront of sustainable mobility. We’re excited to play a role in fueling XOS Trucks’ continued growth.”
XOS Trucks’ Key Milestones
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Pioneering Electric Commercial Vehicles
XOS Trucks has rapidly gained recognition for producing battery-electric trucks that meet the demanding needs of fleet operators in last-mile delivery, logistics, and other high-utilization applications. -
Market-Leading Innovation
By integrating advanced battery technology, streamlined vehicle design, and robust telematics, XOS Trucks delivers solutions that outperform many traditional alternatives in both cost savings and environmental impact. -
Scalable Manufacturing
The newly secured funds, including investment from Build Capital Partners, will allow XOS Trucks to scale production capabilities and broaden its market reach while maintaining a focus on product reliability and customer support. -
Strategic Partnerships
Collaborations with major fleet operators, tech innovators, and automotive suppliers empower XOS Trucks to remain agile in meeting diverse industry demands for zero-emission commercial vehicles.
“Receiving support from Build Capital Partners is a pivotal moment in our journey,” Dakota Semler, co-founder and chief executive of Xos Trucks, said in a statement. “We’re excited to continue growing our operations to provide best-in-class last-mile electric vehicles for our customers. It’s our goal to provide reliable, affordable and sustainable transportation as the volume of ecommerce demands are increasing and have accelerated during the pandemic.”
Build Capital Partners’ Role
Since forging this partnership with XOS Trucks, Build Capital Partners has contributed by:
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Providing Capital & Resources
Offering financial support and operational expertise to expedite manufacturing scale-up while maintaining high-quality vehicle design and production standards. -
Fostering Innovation
Encouraging the integration of advanced technologies in battery systems, data analytics, and vehicle design to maintain XOS Trucks’ competitive edge in the burgeoning electric vehicle market. -
Strategic Guidance
Advising on market expansion, risk management, and organizational strategy as XOS Trucks navigates the rapidly evolving clean mobility sector.
“Our mission at Build Capital Partners is to partner with companies committed to creating a more sustainable future,” added Joshua Tandy, Partner at Build Capital Partners. “XOS Trucks is a perfect match for this vision. We look forward to supporting them as they continue to revolutionize the commercial transportation industry.”
About Build Capital Partners
Build Capital Partners is a premier private equity firm focused on empowering high-growth businesses with capital, resources, and strategic counsel. By partnering with visionary leaders, Build Capital Partners aims to deliver sustainable value creation across diverse industries. Learn more at buildcapitalpartners.com.
About XOS Trucks
XOS Trucks is an industry leader in the design and production of fully electric commercial vehicles, dedicated to reducing operational costs and carbon emissions for fleet operators. Known for its reliable, zero-emission trucks, XOS continues to redefine the standards of efficiency and sustainability in commercial transportation. Discover more at xostrucks.com.