Exhibit 99.1 Capital injection and robust margins position Xos, Inc. for a strong 2024 Improved cash position with $50 million from acquisition of ElectraMeccanica Delivered 180% year-over-year revenue growth Achieved industry-leading 21% gross margins LOS ANGELES, CA – May 15, 2024 – Xos, Inc. (NASDAQ: XOS) (“Xos” or the “Company”), a leading electric truck manufacturer and fleet services provider, today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: ● ...