• ITVI.USA
    15,913.180
    -35.240
    -0.2%
  • OTLT.USA
    2.793
    -0.005
    -0.2%
  • OTRI.USA
    22.300
    0.290
    1.3%
  • OTVI.USA
    15,900.990
    -35.610
    -0.2%
  • TSTOPVRPM.ATLPHL
    2.950
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  • TSTOPVRPM.CHIATL
    3.610
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    22%
  • TSTOPVRPM.DALLAX
    1.370
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    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,913.180
    -35.240
    -0.2%
  • OTLT.USA
    2.793
    -0.005
    -0.2%
  • OTRI.USA
    22.300
    0.290
    1.3%
  • OTVI.USA
    15,900.990
    -35.610
    -0.2%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
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    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
NewsTrucking

XL Fleet expands electric truck conversions to infrastructure

As public debut nears, startup envisions offering electrification as a service

Startup XL Fleet is expanding its electric drive business to creating charging infrastructure. The new division called XL Grid covers energy storage and solar power for electrified fleets.

XL Fleet’s goal is creating electrification as a service (EaaS).

“Fleet electrification requires a massive rollout of vehicle charging infrastructure. And XL Fleet has the customers and data already in place to quickly deliver charging solutions,” founder and Chief Strategy Officer Tod Hynes said in a press release.

Separately, Daimler Trucks North America (DTNA) said Tuesday it is developing an Electric Island for truck charging with Portland General Electric (NYSE: POR).

Growing demand for electric vehicles means at least 100,000 charging stations will be needed in the next several years, XL Fleet estimates. It expects additional large-scale opportunities driven by the incoming Biden administration, CEO Dimitri Kazarinoff said.

Coca-Cola Co., Verizon, Yale University, the city of Boston and others have amassed more than 140 million miles driven on XL Fleet electric drive conversions. TIME magazine named its electric drive system one of its best inventions of 2019.

Customers can purchase XL Grid charging systems separately or as part of an order for vehicles with an electrified powertrain. 

“We are committed to deploying all necessary resources to grow XL Grid into an integral component of our service offering in years to come,” Hynes said.

XL Fleet public debut nears

Boston-based XL Fleet is nearing completion of a reverse merger with special purpose acquisition company Pivotal Investment Corporation II (NYSE: PIC). The business combination is expected to close this month. XL Fleet would receive $350 million raised in PIC II’s initial public offering.

The combined company would be debt-free. It will be named XL Fleet Corp. and remain listed on the New York Stock Exchange under a new ticker symbol, XL.

Related article:

Daimler and PGE creating Electric Island for truck charging

Click for more FreightWaves articles by Alan Adler.

Alan Adler

Alan Adler is a Detroit-based award-winning journalist who worked for The Associated Press, the Detroit Free Press and most recently as Detroit Bureau Chief for Trucks.com. He also spent two decades in domestic and international media relations and executive communications with General Motors.

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