# Xos to acquire ElectraMeccanica in all-stock transaction

Xos, a manufacturer of medium-duty commercial electric trucks, has entered into a definitive agreement to acquire all shares of ElectraMeccanica in an all-stock transaction. The deal will provide Xos with access to ElectraMeccanica's approximately $48.5 million cash balance to meet growing demand for zero-emission trucks.

- Type: Acquisition
- Announced: 2024-01-11
- Where: United States
- Status: announced
- Products: medium-duty commercial electric trucks
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [ElectraMeccanica](https://endata.com/companies/72067.md) (target)
- [Xos](https://endata.com/companies/74924.md) (acquirer)

## Sources

- [index.businessinsurance.com](https://index.businessinsurance.com/observerreporter/article/bizwire-2024-1-11-xos-and-electrameccanica-announce-proposed-combination-to-accelerate-xos-leadership-position-in-manufacturing-commercial-electric-vehicles-for-major-us-fleet-customers), 2024-01-11: "The proposed transaction represents a unique opportunity for Xos to meet the growing demand for zero-emission medium-duty electric trucks by providing Xos with access to ElectraMeccanica’s cash balance which is expected to be approximately $48.5 million at the time of the closing of the transaction."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.