\nXL Fleet Corp. (NYSE: XL) (\u201cXL Fleet\u201d or the \u201cCompany\u201d), a leader in vehicle electrification solutions for commercial and municipal fleets, today responded to a March 3, 2021 report targeting XL Fleet, written by a short-seller with a disclosed economic incentive to negatively influence the Company\u2019s stock price.\n<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210308005401\/en\/<\/a><\/p>\n \nUpon further thorough review, XL Fleet reiterates that the report contains numerous factual inaccuracies, misleading statements, and flawed conclusions. The report should not be relied upon by existing or potential investors seeking to make an informed investment decision.\n<\/p>\n \n\u201cXL Fleet has a long track record of success in the fleet electrification space, a proven business model with best-in-class technology, and a customer-centric approach,\u201d said Dimitri Kazarinoff, CEO of XL Fleet. \u201cWe stand by the validity of our technology, the benefits it delivers to our customers, and the opportunity to further extend our leadership position in an attractive market. I am incredibly proud of what our team continues to achieve, and we remain focused on executing our strategy.\u201d\n<\/p>\n XL Fleet system effectiveness and technology is validated by independent testing facilities following EPA standards to save fuel and maintenance costs, leading to customer re-orders that account for a majority of XL Fleet revenues since inception.<\/b><\/p>\n XL Fleet is a fleet electrification leader that is delivering innovative technology, proven customer value, growing revenues and positive gross margins, with significant opportunity for continued growth.<\/b><\/p>\n XL Fleet\u2019s experienced technical and program management teams are developing a full suite of electrified powertrain systems and related energy storage systems for fleet applications.<\/b><\/p>\n XL Fleet\u2019s executive leadership team is execution-oriented with an unwavering commitment to the highest levels of integrity, accuracy, and performance throughout its business and reporting practices.<\/b><\/p>\n \n\u201cXL Fleet management, engineers and team members have spent over a decade building a strong business and technological leadership that enables our customers to achieve their environmental sustainability goals,\u201d said Tod Hynes, Founder and President of XL Fleet. \u201cWe have a proven and successful track record with over 4,000 systems on the road that have driven more than 145 million customer miles. XL Fleet is well positioned to continue delivering value for customers and shareholders as we expand into new products, services, markets and geographies in the years ahead.\u201d\n<\/p>\n\n
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