The Xos SV Battery Electric Stepvan, a commercial electric vehicle manufactured by Xos, Inc., has been officially approved by the California Air Resources Board (CARB) to be listed on the Clean Truck and Bus Voucher Incentive Program (HVIP) catalog. This means that customers who purchase the 2024 Xos SV Battery-Electric Stepvan are eligible for the HVIP incentive, which starts at a base amount of $85,000. 

This incentive provides a significant opportunity for Xos to offer customers their innovative vehicle at a reduced upfront cost. Xos is committed to delivering cost-effective electrification solutions and sees the HVIP incentive as an essential tool in breaking down the barriers to entry for businesses transitioning to cleaner, electric fleets.

According to Clare Bachman, Manager of Funding and Incentives at Xos, the HVIP approval is an exciting milestone that underlines their commitment to making electrification more cost-effective for their customers.

The 2024 Xos SV is designed to be the best battery-electric vehicle for:

• Parcel delivery

• Linen and textile services trucks

• Utility and repair trucks

• Armored transport

It is also modular, allowing for customization to suit a variety of fleet routes and needs.

By reducing the upfront costs of the Xos SV Stepvan, this HVIP approval lowers the total cost of ownership and enhances financial returns for small business owners. 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 electric vehicle closer to parity with a diesel alternative.