Shares of Xos, Inc. XOS are surging on Thursday after the company announced that its Xos Hub had been officially listed on the General Services Administration (GSA) Schedule.
What To Know: This milestone allows federal agencies and authorized customers to easily procure the company's mobile energy storage and DC fast-charging solution. The announcement was made after the market closed on Wednesday, and the stock saw significant retail-driven activity on Thursday, with shares being bid up following the positive news.
The Xos Hub is a trailer-mounted mobile charging unit designed to offer flexibility for electric vehicle (EV) fleets. It allows customers to bypass delays in charging infrastructure deployment, providing a fast, efficient solution without requiring the usual permits or utility upgrades.
The product is now available for purchase on GSA Advantage, an online platform designed to streamline procurement for government buyers. Xos's CEO, Dakota Semler, emphasized that the Hub's rapid deployability and cost-saving potential for federal agencies make it a unique and valuable asset for the growing EV sector.
XOS Price Action: Xos shares closed 96.5% higher at $6.25 on Thursday, according to Benzinga pro.
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