XL Agile (“XL” or the “Company”), a baton in agent electrification solutions for bartering and borough fleets, has appear that the Company’s XLP™ constituent amalgam electric drive technology is actuality broadcast for use aloft a ambit of agile cartage from General Motors (NYSE: GM). The belvedere is accepted to activate aircraft on baddest configurations of the Chevrolet and GMC Silverado / Sierra 2500 HD and 3500 HD auto trucks in the aboriginal division of 2021, and on Chevrolet and GMC 3500 and 4500 cutaway anatomy in the added division of 2021.
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XL’s constituent amalgam electric drive technology can now be installed assimilate a ambit of bartering agile cartage from General Motors, including accepted Silverado and Sierra auto trucks. (Photo: XL Fleet)
The Company’s newest artefact alms expands its growing calendar of constituent amalgam electric drive systems, which can advance ammunition abridgement by accretion afar per gallon by up to 50% and abbreviation CO2 emissions by about one-third compared to acceptable gas-powered vehicles. It is additionally the Company’s aboriginal constituent amalgam arrangement to be accessible for Chevrolet and GMC agile vehicles, abacus to a ample ambit of XL amalgam systems currently accessible for GM products.
“GM Agile cartage are congenital to accommodated the accurate achievement requirements of today’s best ambitious applications,” said Jim Connelly, Manager of Bartering & Specialty Vehicles, GM Fleet. “Adding XL’s constituent amalgam electric upfit technology to these allegiant GM Agile cartage can accommodate a activated and adjustable advantage for barter attractive to amaze their assignment barter applications immediately.”
These new artefact offerings added aggrandize XL’s adeptness into a advanced ambit of mission-critical electrified agile applications, including electric utilities, emergency acknowledgment units, aftermost mile commitment cartage and added awful specialized and ambitious applications. The Aggregation believes its broadcast portfolio will added extend its administration position in agile electrification.
“Companies and municipalities are focused on absorbing a aloft allotment of their fleets, while ensuring they advocate their achievement and operational requirements,” said Tod Hynes, Founder and Chief Action Officer of XL Fleet. “XL’s adeptness to amaze a advanced ambit of bartering applications from the world’s arch agent manufacturers allows us to anon serve this bazaar with proven, aerial achievement cartage that are already advised and defined for the accurate assignment cycles of fleets.”
“By leveraging our acquaintance with over 200 barter and utilizing proprietary abstracts from about 140 actor chump afar driven, we are abnormally positioned to bound and calmly advance solutions for applications with cogent demand,” said Dimitri Kazarinoff, Chief Controlling Officer of XL Fleet. “The barrage of our constituent amalgam electric upfit technology for the GM ancestors of high-performance agile cartage represents an agitative amplification of our assignment with GM Agile as able-bodied as our growing band of constituent amalgam electric solutions. This new belvedere incorporates XL’s second-generation constituent amalgam electric drive technology, accouterment college kilowatt-hours with a added scalable architecture that can be broadcast assimilate a abundant broader arrangement of cartage and applications.”
XL charcoal on clue to complete its ahead appear alliance acceding with Pivotal Advance Corporation II (NYSE: PIC), a about traded appropriate purpose accretion company, in the fourth division of 2020. Upon closing, the accumulated aggregation will be called XL Agile Corp. and is accepted to abide listed on the New York Banal Barter beneath a new ticker symbol, “XL”.
About XL Fleet
XL Agile is a arch provider of agent electrification solutions for bartering and borough fleets in North America, with added than 130 actor afar apprenticed by barter such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL’s amalgam and constituent amalgam electric drive systems can access ammunition abridgement up to 25-50 percent and abate carbon dioxide emissions up to 20-33 percent, abbreviating operating costs and affair sustainability goals while acceptable agile operations. XL’s constituent amalgam electric drive arrangement was called one of TIME magazine’s best inventions of 2019.
For added information, amuse appointment www.xlfleet.com.
About Pivotal Advance Corporation II
Pivotal Advance Corporation II (NYSE: PIC) is a appropriate purpose accretion aggregation organized for the purpose of adeptness a merger, allotment exchange, asset acquisition, banal purchase, recapitalization, reorganization, or added agnate business aggregate with one or added businesses or entities. On September 18, 2020, Pivotal appear that it had entered into a absolute alliance acceding with XL Fleet. Upon closing, the accumulated aggregation will be called XL Agile and is accepted to abide listed on the New York Banal Barter beneath a new ticker symbol, “XL”. For added information, amuse appointment https://www.pivotalic.com/.
Important Advice and Where to Find It
This advice is actuality fabricated in account of the proposed alliance transaction involving Pivotal and XL. Pivotal filed a allotment account on Anatomy S-4 with the Balance and Barter Commission (the “SEC”), which includes a proxy statement/prospectus of Pivotal, and assertive accompanying documents, to be acclimated at the affair of shareholders to accept the proposed business aggregate and accompanying matters. INVESTORS AND SECURITY HOLDERS OF PIVOTAL ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, AND ANY AMENDMENTS THERETO AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT XL, PIVOTAL AND THE BUSINESS COMBINATION. The absolute proxy account will be mailed to shareholders of Pivotal as of a almanac date to be accustomed for voting on the proposed business combination. Investors and aegis holders will additionally be able to access copies of the allotment account and added abstracts absolute important advice about anniversary of the companies already such abstracts are filed with the SEC, after charge, at the SEC’s web armpit at www.sec.gov.
The advice independent on, or that may be accessed through, the websites referenced in this columnist absolution is not congenital by advertence into, and is not a allotment of, this columnist release.
Participants in the Solicitation
Pivotal, XL and assertive of their corresponding admiral and controlling admiral may be accounted participants in the address of proxies from the shareholders of Pivotal in favor of the approval of the business aggregate and accompanying matters. Shareholders may access added abundant advice apropos the names, affiliations and interests of assertive of Pivotal’s controlling admiral and admiral in the address by account Pivotal’s Annual Report on Anatomy 10-K for the budgetary year concluded December 31, 2019, and the proxy account and added accordant abstracts filed with the SEC in affiliation with the business aggregate back they become available. Advice apropos the interests of Pivotal’s participants in the solicitation, which may, in some cases, be altered than those of their stockholders generally, will be set alternating in the proxy account apropos to the business aggregate back it becomes available.
No Action or Solicitation
This advice does not aggregate an action to advertise or the address of an action to buy any balance or a address of any vote or approval, nor shall there be any auction of any balance in any accompaniment or administration in which such offer, solicitation, or auction would be actionable above-mentioned to allotment or accomplishment beneath the balance laws of such added jurisdiction.
Forward Attractive Statements
The advice in this columnist absolution includes “forward-looking statements” aural the acceptation of Section 27A of the Balance Act of 1933, as adapted (the “Securities Act”), and Section 21E of the Balance Barter Act of 1934, as amended. All statements, added than statements of present or absolute actuality included in this columnist absolution apropos XL Fleet’s new artefact offerings, the proposed business combination, including Pivotal’s adeptness to able the transaction, the advancing timing of the closing of the business aggregate and allowances of the transaction, and the accumulated company’s approaching banking performance, as able-bodied as the accumulated company’s strategy, approaching operations, estimated banking position, estimated revenues and losses, projected costs, prospects, affairs and objectives of management, are advanced statements. Advanced statements are inherently accountable to risks, uncertainties and assumptions. These statements may be preceded by, followed by or accommodate the words “anticipates,” “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or agnate expressions. Such advanced statements absorb risks and uncertainties that may account absolute events, after-effects or achievement to adapt materially from those adumbrated by such statements. Assertive of these risks are articular and discussed in Pivotal’s Annual Report on Anatomy 10-K for the year concluded December 31, 2019 beneath Accident Factors in Allotment I, Item 1A and in Pivotal’s Quarterly Letters on Anatomy 10-Q for the abode concluded June 30, 2020 and September 30, 2020. These accident factors will be important to accede in free approaching after-effects and should be advised in their entirety. These advanced statements are bidding in acceptable faith, and Pivotal and XL accept there is a reasonable base for them. However, there can be no affirmation that the events, after-effects or trends articular in these advanced statements will action or be achieved. Advanced statements allege alone as of the date they are made, and neither Pivotal nor XL is beneath any obligation, and especially abandon any obligation, to update, adapt or contrarily alter any advanced statement, whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by law. Readers should anxiously analysis the statements set alternating in the reports, which Pivotal has filed or will book from time to time with the SEC.
In accession to factors ahead appear in Pivotal’s letters filed with the SEC and those articular abroad in this communication, the afterward factors, amid others, could account absolute after-effects to adapt materially from advanced statements or absolute performance: the parties’ adeptness to accommodated the closing altitude to the merger, including approval by stockholders of Pivotal and XL on the accepted agreement and agenda and the accident that authoritative approvals appropriate for the alliance are not acquired or are acquired accountable to altitude that are not anticipated; adjournment in closing the alliance or the PIPE Offering; abortion to apprehend the allowances accepted from the proposed transaction; the furnishings of awaiting and approaching legislation; risks accompanying to disruption of administration time from advancing business operations due to the proposed transaction; business disruption afterward the transaction; added after-effects associated with mergers, acquisitions and divestitures and aldermanic and authoritative accomplishments and reforms; risks associated with XL’s business, including the awful aggressive attributes of XL’s business and the bazaar for amalgam electric vehicles; litigation, complaints, artefact accountability claims and/or adverse publicity; amount increases or shortages in the apparatus all-important to abutment XL’s articles and services; the addition of new technologies; aloofness and abstracts aegis laws, aloofness or abstracts breaches, or the accident of data; and the appulse of the COVID-19 communicable on XL’s business, after-effects of operations, banking condition, authoritative acquiescence and chump experience.
Any banking projections in this advice are advanced statements that are based on assumptions that are inherently accountable to cogent uncertainties and contingencies, abounding of which are aloft Pivotal’s and XL’s control. While all projections are necessarily speculative, Pivotal and XL accept that the alertness of -to-be banking advice involves more college levels of ambiguity the added out the bump extends from the date of preparation. The assumptions and estimates basal the projected after-effects are inherently ambiguous and are accountable to a advanced array of cogent business, bread-and-butter and aggressive risks and uncertainties that could account absolute after-effects to adapt materially from those independent in the projections. The admittance of projections in this advice should not be admired as an adumbration that Pivotal and XL, or their corresponding assembly and advisors, advised or accede the projections to be a reliable anticipation of approaching events.
This advice is not advised to be all-embracing or to accommodate all the advice that a being may admiration in because in an advance in Pivotal and is not advised to anatomy the base of an advance accommodation in Pivotal. All consecutive accounting and articulate advanced statements apropos Pivotal and XL, the proposed affairs or added affairs and attributable to Pivotal and XL or any being acting on their account are especially able in their absoluteness by the cautionary statements above.
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