Commercial electric vehicle manufacturer Xos Inc. has received official approval from the California Air Resources Board (CARB) for the 2024 Xos SV battery electric step van to be listed on the Clean Truck and Bus Voucher Incentive Program (HVIP) catalog.
The HVIP incentive, starting at a base amount of $85,000, lets Xos provide its 2024 Xos SV step van at a reduced upfront cost to customers.
Xos says it is committed to delivering cost-effective electrification solutions and views the HVIP incentive as an essential tool in breaking down the barriers to entry for businesses transitioning to cleaner, electric fleets. With a base HVIP incentive of $85,000 per vehicle, customers stand to make substantial savings on their purchase of a new Xos SV.
“The renewal of the 2024 model of our Xos SV in HVIP is an exciting milestone that underlines our commitment to make electrification more cost-effective for our customers,” says Clare Bachman, manager of Funding and Incentives at Xos. “Since the program first launched, we have a demonstrated track record of assisting our customers in benefiting from the available funding. We are keen to continue to help our customers take advantage of these incentive dollars.”
The 2024 Xos SV is designed to be the optimal battery electric vehicle for key use cases, including parcel delivery, linen and textile services trucks, utility and repair trucks, and armored transport. Its modularity allows for customization to suit a variety of fleet routes and needs.
Small business customers with 20 or fewer medium- and heavy-duty vehicles in their fleet and an annual revenue cap of $15 million may be eligible to receive a cash on-the-hood discount of around $170,000 or more toward purchasing a 2024 Xos SV. The small fleet base voucher adjustment through HVIP helps position the SV as an increasingly viable option for smaller businesses and contractors seeking to bring the cost of a commercial EV closer to parity with a diesel alternative.