Xos, Inc. has received official approval from the California Air Resources Board (CARB) for the 2024 Xos SV Battery Electric Stepvan to be listed on the Clean Truck and Bus Voucher Incentive Program (HVIP) catalog. The HVIP incentive, starting at a base amount of $85,000, offers Xos a significant opportunity to provide their innovative 2024 Xos SV Battery-Electric Stepvan at a reduced upfront cost to customers. Xos is committed to delivering cost-effective electrification solutions and views the HVIP incentive as an essential tool in breaking down the barriers to entry for businesses transitioning to cleaner, electric fleets.

With a base HVIP incentive of $85,000 per vehicle, customers stand to make substantial savings on their purchase of a new Xos SV. The 2024 Xos SV is designed to be the optimal battery-electric vehicle for key use cases, including parcel delivery, linen and textile services trucks, utility and repair trucks, and armored transport. Its modularity allows for customization to suit a variety of fleet routes and needs.

This HVIP approval reduces the upfront costs of the Xos SV Stepvan, lowering the total cost of ownership and enhancing financial returns for small business owners. Xos's small business customers with 20 or fewer medium and heavy-duty vehicles in their fleet and an annual revenue cap of $15 million may be eligible to receive a cash on-the-hood discount of around $170,000 or more towards purchasing a 2024 Xos SV. The small fleet base Voucher adjustment through HVIP helps position the SV as an increasingly viable option for smaller businesses and contractors seeking to bring the cost of a commercial electric vehicle closer to parity with a diesel alternative.