M&A Deal Summary

Xos Acquires Electrameccanica

On March 26, 2024, Xos acquired automotive company Electrameccanica

Acquisition Highlights
  • This is Xos’ 1st transaction in the Automotive sector.
  • This is Xos’ 1st transaction in Canada.
  • This is Xos’ 1st transaction in British Columbia.

M&A Deal Summary
Date 2024-03-26
Target Electrameccanica
Sector Automotive
Buyer(s) Xos
Deal Type Add-on Acquisition

Target

Electrameccanica

Burnaby, British Columbia, Canada
Electrameccanica is a designer and assembler of electric vehicles for EMV and other companies. Electrameccanica is based in Burnaby, British Columbia.

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Buyer(S) 1

Buyer

Xos

Los Angeles, California, United States
Category Company
Founded 2020
Sector Automotive
Employees161
Revenue 45M USD (2023)
DESCRIPTION

Xos is a technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. Its vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. Xos was formed in 2020 and is based in Los Angeles, California.

DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
Mergr

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