LOS ANGELES, June 22, 2022 (GLOBE NEWSWIRE) -- Xos, Inc. (the “Company”) (NASDAQ: XOS), a leading manufacturer of Class 5 through Class 8 battery-electric vehicles and fleet services provider, will join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, 2022.
Annual Russell indexes reconstitution captures the 4,000 largest US companies, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index remains in place for one year and measures the performance of the largest 3,000 publicly-traded companies in the United States.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
“Joining the Russell indexes further extends Xos’ reach within the investment community, as we continue to execute on our strategy as a best-in-class manufacturer of Class 5 through Class 8 commercial electric vehicles and fleet services provider," said Dakota Semler, Xos’ Chief Executive Officer and Co-Founder. “With many exciting business updates ahead, we look forward to delivering on our commitments and driving shareholder value.”
About Xos, Inc.
Xos is a leading fleet services provider and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles and the tools to adopt them. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of up to 270 miles per day. The company leverages its proprietary technologies to provide commercial fleets with zero-emission vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, please visit www.xostrucks.com.
About FTSE Russell.
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Contacts:
Xos Investor Relations
investors@xostrucks.com
Xos Media Relations
press@xostrucks.com
