Revenue for the full year 2023 improved to $44.5 million from $36.4 million in 2022. Xos achieved positive gross margins in the third and fourth quarters of 2023.
Xos to Merge with ElectraMeccannica
The all-stock acquisition will give Xos access to ElectraMeccanica's cash balance of $48.5 million to fund the expansion of Xos' electric trucks in fleets.