Market Overview

XL's Electrified Ford F-250 Earns California Air Resources Board Executive Order

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Fleet electrification leader provides California organizations with
the most CARB-approved electrified fleet vehicle options in the industry

XL,
the leader in connected vehicle electrification solutions for commercial
and municipal fleets, today announced it has received approval from the
California Air Resources Board (CARB) to sell hybrid electric Ford F-250
pickup trucks in California, marking the 14th CARB executive
order achieved by the company. XL has earned the highest number of CARB
executive orders for commercial vehicle electrification in the entire
automotive industry. In addition, the company noted that its
hybrid-equipped Ford F-250 improves fuel economy by an average of 25%,
while reducing CO2 emissions by 20%, providing both an economic and
environmental advantage for fleets across North America.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180821005149/en/

XL has received approval from the California Air Resources Board (CARB) to sell hybrid electric Ford ...

XL has received approval from the California Air Resources Board (CARB) to sell hybrid electric Ford F-250 pickup trucks in California. (Photo: Business Wire)

The California Air Resources Board and other organizations continue to
pursue the statewide goals for reducing greenhouse gases to 40 percent
below 1990 levels by 2030, and part of the burden will rest on the
transportation sector to reduce emissions. Many commercial and public
fleets are deploying electrified fleet vehicles to meet these goals. In
addition to hybrid electric F-250s, XL also offers hybrid electric (HEV)
systems for Ford Transit vans, General Motors vans and cutaways, and
Ford E-Series cutaways. XL introduced its plug-in hybrid electric (PHEV)
system for Ford F-150s last
year
, highlighting an MPG gain of 50% and CO2 reduction of 33%. As a
result, commercial, municipal and utility fleets have cost-effective and
scalable ways to achieve sustainability goals, without impacting vehicle
performance or operations.

"The XLH system is helping us to be in line with the California
greenhouse gas reduction standards for the vehicles we use in the
County," said Mike Quan, C.P.M. for the County of Los Angeles Internal
Services Department – Fleet Services. "And the XL Link telematics
program will allow us to measure and analyze speed, idling, vehicle
drive cycle, CO2 emissions reductions and MPG."

Clay Siegert, chief operating officer of XL, said, "California continues
to set a high bar for electrified vehicle technology, and we've seen
many U.S. states following California's lead. As a result of this CARB
executive order, XL provides fleets with even more choices for
electrified trucks and vans, while ensuring that XL is well-positioned
should California and other U.S. states tighten restrictions on
conventional vehicles with internal combustion engines."

The XL team will host
a webinar
on September 20 with CALSTART to discuss how fleet
managers can expedite achieving their fleet sustainability goals. For
more information about XL fleet electrification technology, fleet
managers can also contact sales@xlfleet.com.

About XL
XL is the leader in vehicle electrification
solutions for commercial and municipal fleets in North America, relied
on by customers such as The Coca-Cola Company, Verizon, Yale University,
the City of Boston and the City of Seattle. With its XLH® hybrid
electric drive system and the XLPplug-in hybrid electric
drive system, XL offers fleet-ready® technology to Class 2 to
6 commercial and municipal customers to increase fuel economy by between
25-50 percent and reduce carbon dioxide emissions by between 20-33
percent, decreasing operating costs and meeting sustainability goals
with zero impact on fleet operations. XL works with Ford, General Motors
and Isuzu to electrify thousands of commercial trucks, vans and
shuttles, with over 70 million miles driven on XL systems. Founded by
MIT alumni and funded by Constellation Technology Ventures, IKEA Group
and private investors, XL is based in Boston. For more information,
visit www.xlfleet.com
or follow us on Twitter @xlfleet.

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