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XL Fleet

xlfleet.com

Founded Year

2009

Stage

Acq - P2P | Acquired

Total Raised

$47.57M

About XL Fleet

XL Fleet (NYSE: SPRU) designs manufacture and installs hybrid electric powertrains for commercial vans and trucks. The company's hybrid-electric powertrain can either be installed on existing vehicles or as an upfit on new ones. It provides subscription-based services for homeowners and small businesses to own and maintain rooftop solar and battery storage. The company was founded in 2009 and is based in Brighton, Massachusetts. In January 2023, XL Fleet was acquired by The Shyft Group. The terms of the transaction were not disclosed.

Headquarters Location

145 Newton Street

Brighton, Massachusetts, 02135,

United States

617-718-0329

XL Fleet's Product Videos

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XL Fleet's Products & Differentiators

    XLE

    Electric System

Research containing XL Fleet

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned XL Fleet in 1 CB Insights research brief, most recently on Apr 21, 2022.

Expert Collections containing XL Fleet

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

XL Fleet is included in 1 Expert Collection, including Auto Tech.

A

Auto Tech

3,374 items

Startups building a next-generation mobility ecosystem, using technology to improve connectivity, safety, convenience, and efficiency in vehicles.Includes technologies such as ADAS and autonomous driving, connected vehicles, fleet telematics, V2V/V2X, and vehicle cybersecurity.

XL Fleet Patents

XL Fleet has filed 25 patents.

The 3 most popular patent topics include:

  • Automotive technologies
  • Engine technology
  • Energy storage
patents chart

Application Date

Grant Date

Title

Related Topics

Status

8/5/2019

5/31/2022

Automotive transmission technologies, Engine technology, Automotive technologies, Hybrid electric cars, Energy storage

Grant

Application Date

8/5/2019

Grant Date

5/31/2022

Title

Related Topics

Automotive transmission technologies, Engine technology, Automotive technologies, Hybrid electric cars, Energy storage

Status

Grant

Latest XL Fleet News

SPRUCE ALERT: Bragar Eagel & Squire, P.C. is Investigating Spruce Power Holding Corp on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Jan 28, 2023

2 minute read NEW YORK–(BUSINESS WIRE)– #A –Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Spruce Power Holding Corp. (NYSE: SPRU) f/k/a XL Fleet Corp. on behalf of long-term stockholders following a class action complaint that was filed against Spruce on March 8, 2021 with a Class Period from September 2, 2020 to March 2, 2021. Our investigation concerns whether the board of directors of Spruce have breached their fiduciary duties to the company. The complaint alleges that defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (i) XL’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; (ii) at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019; (iii) XL’s technology had been materially overstated and offered only 5% to 10% of fleet savings; (iv) XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (v) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you are a long-term stockholder of Spruce, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected] , by telephone at (212) 355-4648, or by filling out this contact form . There is no cost or obligation to you. About Bragar Eagel & Squire, P.C. : Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes. Contacts

XL Fleet Frequently Asked Questions (FAQ)

  • When was XL Fleet founded?

    XL Fleet was founded in 2009.

  • Where is XL Fleet's headquarters?

    XL Fleet's headquarters is located at 145 Newton Street, Brighton.

  • What is XL Fleet's latest funding round?

    XL Fleet's latest funding round is Acq - P2P.

  • How much did XL Fleet raise?

    XL Fleet raised a total of $47.57M.

  • Who are the investors of XL Fleet?

    Investors of XL Fleet include The Shyft Group, Pivotal Investment II, Paycheck Protection Program, IKEA, Constellation Technology Ventures and 6 more.

  • What products does XL Fleet offer?

    XL Fleet's products include XLE and 1 more.

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