XL Fleet lists on the New York Stock Exchange
December 22, 2020
XL, a leader in commercial vehicle electrification that joined OGCI Climate Investments’ portfolio in 2019, has merged with Pivotal Investment Corporation II, a publicly traded special purpose acquisition company (or SPAC).
The combined company was renamed XL Fleet Corp. and is trading on the New York Stock Exchange under the ticker, “XL”.
As part of the merger and related private placement, XL Fleet received around US$350 million that will be used to advance XL Fleet’s position as a leader in fleet electrification. It plans to develop new products including all electric solutions, and further deploy its grid charging infrastructure division and “electrification as a service” offering.
Currently active In North America, with more than 140 million miles driven by customers such The Coca-Cola Company and the city of Boston, XL Fleet also plans to expand internationally.