What's up with XL Fleet stock? The EV stock is down over 80% from ATH. Today we weigh the pros and cons of investing in XL stock by taking a look at their Q4 earnings and their new potential Department of Defence contract... We discuss the reasons why XL stock has the potential to become an incredible multibagger play going forward.
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What makes XL different from Tesla and Nio, is that XL doesn’t make its own branded commercial Electric Vehicles. Instead, they take gasoline-powered commercial vehicles and fit them with batteries, electric motors, and control systems, transforming them into hybrids. In other words, XL develops and deploys hybrid electric solutions for the commercial and municipal vehicle market in North America. Transportation is the largest contributor to greenhouse gas emissions in the US and fleet managers are under increased pressure to curb emissions. Some of their many clients include Ford, GM, PepsiCo and FedEx. Companies using XL actually save money on their fleets.
At the beginning of February, the company announced a partnership with Curbtender, a designer and manufacturer of vehicles. The companies will jointly develop fully electric, plug-in hybrid, and hybrid trucks beginning this year.
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