Xos Inc (XOS) 2023 Q2 法說會逐字稿

Greetings, and welcome to Xos, Inc.'s Second Quarter 2023 Earnings Call.

您好，歡迎參加 Xos, Inc. 的 2023 年第二季度財報電話會議。

(Operator Instructions) Please note, this conference is being recorded.

（操作員說明）請注意，本次會議正在錄製中。

At this time, I would like to turn the conference over to General Counsel of Xos, Christen Romero. Thank you. You may begin.

現在，我想將會議交給 Xos 總法律顧問 Christen Romero。謝謝。你可以開始了。

Thank you, everyone, for joining us today. Hosting the call with me today are Chief Executive Officer, Dakota Semler; Chief Operating Officer, Giordano Sordoni; and Acting Chief Financial Officer, Liana Pogosyan.

謝謝大家今天加入我們。今天與我一起主持電話會議的是首席執行官達科塔·塞姆勒 (Dakota Semler)；首席運營官佐丹奴·索爾多尼；代理首席財務官 Liana Pogosyan。

Ahead of this call, Xos issued its second quarter 2023 earnings press release, which we will reference during this call. This can be found on the Investor Relations section of our website at investors.xostrucks.com.

在本次電話會議之前，Xos 發布了 2023 年第二季度收益新聞稿，我們將在本次電話會議期間參考該新聞稿。您可以在我們網站的投資者關係部分找到該信息：investors.xostrucks.com。

On this call, management will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect because of factors discussed in today's earnings news release, during this conference call or in our latest reports and filings with the Securities and Exchange Commission. These documents can be found on our website at investors.xostrucks.com. We do not undertake any duty to update any forward-looking statements.

在本次電話會議上，管理層將根據當前的預期和假設做出前瞻性聲明，這些預期和假設存在風險和不確定性。如果我們的任何關鍵假設由於今天的收益新聞稿、本次電話會議或我們向美國證券交易委員會提交的最新報告和文件中討論的因素而出現錯誤，那麼實際結果可能與我們的前瞻性陳述存在重大差異。這些文件可以在我們的網站 Investors.xostrucks.com 上找到。我們不承擔更新任何前瞻性陳述的責任。

Today's presentation also includes references to non-GAAP financial measures and performance metrics. Please refer to the information contained in the company's second quarter 2023 earnings press release for definitional information and reconciliations of historical non-GAAP measures to the comparable GAAP financial measures. Participants should be cautioned not to put undue reliance on forward-looking statements.

今天的演示還包括對非公認會計準則財務指標和績效指標的引用。請參閱公司 2023 年第二季度收益新聞稿中包含的信息，了解歷史非 GAAP 指標與可比 GAAP 財務指標的定義信息和調節表。應提醒參與者不要過度依賴前瞻性陳述。

With that, I'll turn it over to Dakota.

有了這個，我就把它交給達科他州。

Thanks, Christen, and thank you, everyone, for joining us for our second quarter 2023 earnings call. On today's call, I will cover the quarterly business highlights, provide an update on our vehicles and Energy Solutions deliveries and share the latest on the regulatory tailwinds supporting the industry. Then our COO, Giordano Sordoni, will provide an update on our manufacturing efforts. To wrap up, our acting CFO, Liana Pogosyan, will share the company's second quarter financial performance.

謝謝 Christen，也謝謝大家參加我們的 2023 年第二季度財報電話會議。在今天的電話會議上，我將介紹季度業務亮點，提供有關我們的車輛和能源解決方案交付的最新信息，並分享支持該行業的最新監管推動因素。然後我們的首席運營官 Giordano Sordoni 將提供我們製造工作的最新信息。最後，我們的代理首席財務官 Liana Pogosyan 將分享公司第二季度的財務業績。

I will begin by discussing our deliveries and the growing demand we are seeing for our vehicles. During the second quarter, we delivered a total of 38 units, modestly higher than the first quarter. Deliveries in the quarter were negatively impacted by customer charging infrastructure delays that pushed some planned second quarter deliveries into the second half of this year and into 2024.

我將首先討論我們的交付情況以及我們對車輛日益增長的需求。第二季度，我們總共交付了 38 套，略高於第一季度。本季度的交付受到客戶充電基礎設施延誤的負面影響，導致第二季度的一些計劃交付推遲到今年下半年和 2024 年。

In light of our deliveries in the first half of the year, we have elected to revise our full year 2023 guidance to 250 to 350 units delivered and associated revenue and non-GAAP operating loss expectations, which Liana will cover later. The updated ranges reflect both slower-than-anticipated deliveries and higher-than-expected ASPs, driven largely by customer uptake of the long-range 200-mile step and variant. Our success in generating follow-on orders from large national accounts gives us confidence in achieving these targets. We are seeing the benefits of our sales approach focused on long-term customer relationships with orders like the 30 units for UniFirst that we announced last week as part of a 200-unit Memorandum of Understanding we signed in 2021.

鑑於我們上半年的交付量，我們選擇將 2023 年全年交付量指引修訂為 250 至 350 輛，以及相關收入和非 GAAP 運營虧損預期，Liana 將在稍後對此進行闡述。更新後的續航里程既反映了交付速度慢於預期，又反映了平均售價高於預期，這主要是由於客戶對 200 英里長距離步進和變體的接受。我們成功地從大型國民賬戶中產生了後續訂單，這讓我們對實現這些目標充滿信心。我們看到了專注於長期客戶關係的銷售方法的好處，例如我們上周宣佈為 UniFirst 訂購 30 台訂單，這是我們在 2021 年簽署的 200 台諒解備忘錄的一部分。

We also expect to deliver between 120 and 150 vehicles to repeat customer Loomis in the second half of this year. Additionally, we are seeing more customers bringing charging infrastructure online, spurred on by the Inflation Reduction Act and Advanced Clean Fleets Rules, many of our customers began investing in charging infrastructure at the beginning of 2023, and we expect these chargers to come online over the next 12 months.

我們還預計在今年下半年向老客戶 Loomis 交付 120 至 150 輛汽車。此外，我們看到越來越多的客戶將充電基礎設施上線，在《減少通貨膨脹法案》和《高級清潔車隊規則》的推動下，我們的許多客戶在2023 年初開始投資充電基礎設施，我們預計這些充電器將在2023 年上線。未來 12 個月。

Turning back to the second quarter, we successfully produced and shipped our first gross margin positive units. These units are the first 2023 stepvans shipped to customers, and we expect our financial performance to continue to improve as we scale production. This is an exciting milestone for both Xos and the industry as we are among the first OEMs to demonstrate that commercial EV trucks can be produced profitably. We do still have a number of previous generation trucks in inventory and on their way to customers that will have a negative impact on company gross margin performance through the rest of this year even as we expect to deliver gross margin positive units throughout the second half of 2023.

回到第二季度，我們成功生產並發貨了第一批毛利率為正的產品。這些單位是 2023 年首批交付給客戶的步進貨車，我們預計隨著我們擴大生產規模，我們的財務業績將繼續改善。對於 Xos 和整個行業來說，這都是一個令人興奮的里程碑，因為我們是首批證明商用電動卡車生產可以盈利的原始設備製造商之一。我們仍然有一些上一代卡車庫存並在運送給客戶的途中，這將對公司今年剩餘時間的毛利率表現產生負面影響，儘管我們預計在整個下半年交付毛利率為正的單位2023 年。

Moving now to Xos Energy Solutions and charging infrastructure. As a company, we underestimated the challenges for the EV truck industry and installing new charging infrastructure. However, the outlook is improving for last mile fleets we serve, both in growing demand for our suite of comprehensive charging services and in growing infrastructure investments by customers at the time of vehicle purchase. Though charging infrastructure will remain a constraint on EV truck adoption, we anticipate improvement through 2024 will be motivated by incentive capture and emissions mandate compliance.

現在轉向 Xos 能源解決方案和充電基礎設施。作為一家公司，我們低估了電動卡車行業和安裝新充電基礎設施所面臨的挑戰。然而，我們服務的最後一英里車隊的前景正在改善，無論是對我們的綜合充電服務套件的需求不斷增長，還是客戶在購買車輛時不斷增加的基礎設施投資。儘管充電基礎設施仍將是電動卡車採用的一個限制因素，但我們預計到 2024 年，激勵措施和排放指令合規性將推動電動卡車的改善。

In addition to our permanent charging infrastructure projects, we are also seeing growing interest in the second-generation Xos Hub. As you may recall, the Hub is capable of charging 5 vehicles at the same time from a single power connection, enabling fleet operators to transition to EVs before installing permanent infrastructure. These capabilities are bringing a diverse set of customers to the table from fleet operators to utilities and construction companies looking for off-grid power solutions.

除了我們的永久充電基礎設施項目外，我們還看到人們對第二代 Xos Hub 的興趣日益濃厚。您可能還記得，該集線器能夠通過單個電源連接同時為 5 輛車充電，使車隊運營商能夠在安裝永久性基礎設施之前過渡到電動汽車。這些功能吸引了各種各樣的客戶，從車隊運營商到尋求離網電力解決方案的公用事業和建築公司。

Shifting to the regulatory environment, recent changes are driving demand for Xos' vehicles. In California, the Advanced Clean Fleets or ACF rule requires medium-duty fleets, including stepvans to transition to zero-emission vehicles. By 2025, large fleet operators in California will be required to have 10% of their fleet be zero-emission vehicles. This means that thousands of step vans over the next 2 years will be required in order to comply in California alone. Outside of California, 14 other states have signed a pledge for 30% zero-emission fleets by 2030.

轉向監管環境，最近的變化正在推動對 Xos 車輛的需求。在加利福尼亞州，高級清潔車隊或 ACF 規則要求中型車隊（包括小型貨車）過渡到零排放車輛。到 2025 年，加州的大型車隊運營商將被要求其車隊中 10% 是零排放車輛。這意味著，僅在加利福尼亞州，未來兩年就需要數千輛踏板車才能滿足要求。除加利福尼亞州外，其他 14 個州也簽署了到 2030 年實現 30% 零排放車隊的承諾。

The ACF rule is administered by the California Air Resources Board, or CARB, which has a history of setting aggressive targets and strictly enforcing them. California fleets experienced a similar event in 2008 with the passage of CARB's California Statewide Truck and Bus Rule. At the time, the rule required all new trucks to comply with lower particulate emission standards and eventually require the phaseout or retrofit of older engines. While most fleets anticipated this landmark legislation to be challenged or delayed, the implementation proceeded as planned with the final phaseout of older diesel engines having occurred in 2022.

ACF 規則由加州空氣資源委員會 (CARB) 管理，該委員會有著制定積極目標並嚴格執行的歷史。 2008 年，隨著 CARB 的《加州全州卡車和公共汽車規則》的通過，加州車隊也經歷了類似的事件。當時，該規則要求所有新卡車遵守較低的顆粒物排放標準，並最終要求逐步淘汰或改造舊發動機。雖然大多數船隊預計這一具有里程碑意義的立法會受到挑戰或推遲，但實施工作仍按計劃進行，舊柴油發動機的最終淘汰將於 2022 年進行。

We expect CARB to enforce the ACF rule with the same rigor, including fines for noncompliance. Our conversations with customers reflect the seriousness of the new zero-emission mandates. We have received orders and are delivering vehicles that will bring a number of California fleets into compliance. For stepvans fleets are not yet on track to comply, the limiting factor is typically charging infrastructure, which is why Xos Energy Solutions remains such a focus for us.

我們期望 CARB 以同樣嚴格的方式執行 ACF 規則，包括對違規行為處以罰款。我們與客戶的對話反映了新的零排放指令的嚴肅性。我們已收到訂單並正在交付車輛，將使加州的一些車隊遵守規定。對於尚未走上合規軌道的小型貨車車隊來說，限制因素通常是充電基礎設施，這就是為什麼 Xos 能源解決方案仍然是我們關注的焦點。

On the incentive front, we are seeing a strong uptake of the $40,000 IRA tax credit and additional incentives available in 11 states, covering 42% of the U.S. population. In some cases, the stackable Federal and state incentives bring the cost of an Xos stepvan meaningfully below the purchase price of a diesel alternative, providing a total cost of ownership advantage on day 1. I would like to stress, however, that we do not need to and are not relying on these incentives to support customer purchasing decisions. Our vehicles already offer a compelling TCO advantage on an unsubsidized basis.

在激勵方面，我們看到 40,000 美元的 IRA 稅收抵免和額外激勵措施在 11 個州得到了廣泛採用，覆蓋了美國 42% 的人口。在某些情況下，可疊加的聯邦和州激勵措施使Xos 步進貨車的成本明顯低於柴油替代品的購買價格，從而在第一天提供總擁有成本優勢。但是，我想強調的是，我們不需要且不依賴這些激勵措施來支持客戶的購買決策。我們的車輛已經在無補貼的基礎上提供了引人注目的 TCO 優勢。

Finally, before I wrap up, I would like to discuss our focus on cost efficiency. During the quarter, we set aggressive operational expenditure reduction targets and have made meaningful changes in order to achieve them. First, we reduced our spend on a range of overhead costs, including subscription software, insurance and professional services. Second, we made the difficult decision to reduce our headcount during the quarter. We remain committed to building a sustainable business with the appropriately sized workforce. This is never an easy decision to make, and I would like to thank every Xos employee for their support in achieving our mission.

最後，在結束之前，我想討論一下我們對成本效率的關注。在本季度，我們制定了積極的運營支出削減目標，並為實現這些目標做出了有意義的改變。首先，我們減少了一系列間接費用的支出，包括訂閱軟件、保險和專業服務。其次，我們在本季度做出了裁員的艱難決定。我們仍然致力於通過適當規模的員工隊伍建立可持續發展的業務。這從來都不是一個容易做出的決定，我要感謝每一位 Xos 員工為實現我們的使命所提供的支持。

Finally, heading into the third quarter, we prepared to bring our manufacturing in-house, which Gio will cover shortly. We are confident that these actions have placed Xos on the right path to profitability without sacrificing our growth targets.

最後，進入第三季度，我們準備將製造轉移到內部，Gio 很快就會介紹這一點。我們相信，這些行動使 Xos 走上了盈利的正確道路，同時又不犧牲我們的增長目標。

With that, I would now like to turn the call over to our COO, Gio Sordoni, who will share an operational update. Gio?

現在，我想將電話轉給我們的首席運營官 Gio Sordoni，他將分享運營最新情況。吉奧？

Thanks, Dakota. As you've just mentioned, we made the decision to in-source our contract manufacturing activities within the Xos organization. This decision was made after the team identified opportunities to significantly lower our costs, improve quality control and simplify inventory management relative to the contract manufacturing agreement. As such, at the beginning of the third quarter, 33 employees from our former contract manufacturer formerly joined Xos. All Xos vehicles continue to be manufactured in the same Tennessee facility using the same processes and by the same team.

謝謝，達科他。正如您剛才提到的，我們決定將我們的合同製造活動內包到 Xos 組織內。這一決定是在團隊發現了與合同製造協議相關的顯著降低成本、改進質量控制和簡化庫存管理的機會後做出的。因此，在第三季度初，我們前合同製造商的 33 名員工加入了 Xos。所有 Xos 車輛繼續在同一田納西州工廠使用相同流程並由同一團隊製造。

As many of you know, Xos' operational focus remains on delivering gross margin positive units. And as Dakota briefly mentioned earlier, we're happy to announce that we successfully produced and shipped our first gross margin positive units. The team has taken meaningful steps in order to achieve this goal. Chief among them, the release of the 2023 stepvan in both 100 and 200-mile variants. The new vehicle, which began shipping to customers in the quarter, is yielding a COGS savings of over $15,000 per vehicle compared to the prior model.

正如許多人所知，Xos 的運營重點仍然是提供正毛利率單位。正如達科他之前簡要提到的那樣，我們很高興地宣布，我們已成功生產並發貨了第一批毛利率為正的產品。為了實現這一目標，團隊採取了有意義的步驟。其中最主要的是 2023 款 Stepvan 的發布，包括 100 英里和 200 英里兩種版本。這款新車已於本季度開始向客戶發貨，與之前的車型相比，每輛車的 COGS 節省超過 15,000 美元。

Significant portion of those savings come from design improvements that simplify the assembly process and save time on the production line. We expect to continue rolling out cost savings updates over the next year as further improvements are made when we work through the existing component inventories.

這些節省的很大一部分來自於設計改進，這些改進簡化了裝配過程並節省了生產線的時間。我們預計明年將繼續推出成本節約更新，因為我們在處理現有組件庫存時會取得進一步的改進。

At the same time, we're building a higher performance and higher quality product for our customers. On the quality front, our team is wrapping up a block of test track time, stimulating a 300,000-mile real-world lifespan to validate durability. On the production line, we've made improvements to the vehicle design and assembly process that results in a quieter driving experience to the driver. These continuous improvements provide a competitive advantage for Xos and stepvan fleets where drivers are regularly subject to high noise levels. Elsewhere in the factory, we implemented a new incoming part inspection process to ensure we accept quality parts from our supply base and avoid future inventory write-downs.

與此同時，我們正在為客戶打造更高性能和更高質量的產品。在質量方面，我們的團隊正在完成一段測試跑道時間，刺激 300,000 英里的實際使用壽命，以驗證耐用性。在生產線上，我們改進了車輛設計和裝配流程，為駕駛員帶來更安靜的駕駛體驗。這些持續改進為 Xos 和步進貨車車隊提供了競爭優勢，因為駕駛員經常受到高噪音水平的影響。在工廠的其他地方，我們實施了新的來料檢驗流程，以確保我們接受來自供應基地的優質零件，並避免未來的庫存減記。

In summary, we remain well positioned to scale our business, expand margins and look towards generating positive cash flow.

總而言之，我們仍處於有利地位，可以擴大業務規模、擴大利潤並尋求產生正現金流。

I'll now turn the call over to our acting CFO, Liana Pogosyan, who will cover our financial results for the quarter.

我現在將把電話轉給我們的代理首席財務官 Liana Pogosyan，她將介紹我們本季度的財務業績。

Thank you, Gio, and good afternoon, everyone. For the second quarter, our revenue was $4.8 million compared to $4.7 million in the first quarter of 2023. Our cost of goods sold during the quarter increased to $8.5 million compared to $5.6 million from the first quarter of 2023.

謝謝你，吉奧，大家下午好。第二季度，我們的收入為 480 萬美元，而 2023 年第一季度為 470 萬美元。本季度的銷售成本增加至 850 萬美元，而 2023 年第一季度為 560 萬美元。

Gross margin during the quarter was a loss of $3.7 million compared to a loss of $0.9 million in the first quarter. This was driven by a lower average selling price due to channel mix, additional reserves recorded during the second quarter and physical inventory and other adjustments.

本季度毛利率虧損 370 萬美元，而第一季度毛利率虧損 90 萬美元。這是由於渠道組合、第二季度記錄的額外儲備以及實物庫存和其他調整導致平均售價較低。

Turning to expenses. Our second quarter operating expenses decreased to $16.8 million from $19.2 million in the first quarter of 2023 and was largely driven by lower general and administrative expenses of $9.8 million during the quarter compared to $11.6 million in the first quarter of 2023. Non-GAAP operating loss for the second quarter was $17 million.

轉向開支。我們第二季度的運營費用從2023 年第一季度的1920 萬美元減少至1680 萬美元，這主要是由於本季度的一般和管理費用減少了980 萬美元，而2023 年第一季度為1160 萬美元。 非GAAP 運營虧損第二季度的銷售額為 1700 萬美元。

As mentioned earlier in the call, we made additional cost-cutting changes during the second quarter, including bringing our manufacturing in-house, reducing our subscription software spend and a reduction of head count. The outcome of these changes is a more streamlined organization with Xos' resources focused on our top priorities of delivering more units, expanding margins and preserving a healthy liquidity profile.

正如之前在電話會議中提到的，我們在第二季度進行了額外的成本削減變革，包括將製造轉移到內部、減少訂閱軟件支出以及減少員工數量。這些變化的結果是一個更加精簡的組織，Xos 的資源集中在我們的首要任務上，即提供更多單位、擴大利潤和保持健康的流動性狀況。

We closed the quarter with cash, cash equivalents and investments of $41.1 million. In addition to cash used in operating activities, we used $7.8 million during the second quarter in financing activities, primarily related to payments on our convertible debentures with Yorkville and other short-term insurance financing notes.

本季度結束時，我們的現金、現金等價物和投資為 4110 萬美元。除了經營活動中使用的現金外，我們第二季度在融資活動中使用了 780 萬美元，主要用於支付約克維爾可轉換債券和其他短期保險融資票據。

Operating cash flow less CapEx or free cash flow of negative $15.8 million for the quarter was in line with negative $15.6 million last quarter. We believe that as we grow delivery volumes, build working capital and progress towards positive gross margin, we will have options to raise additional capital and we'll continue to maintain sufficient liquidity.

本季度運營現金流減去資本支出或自由現金流為負 1,580 萬美元，與上季度的負 1,560 萬美元一致。我們相信，隨著交付量的增加、營運資金的增加以及毛利率為正的進展，我們將有機會籌集額外資本，並且我們將繼續保持充足的流動性。

Looking forward, we're revising our full year 2023 guidance to 250 to 350 units delivered, revenue to be in the range of $36.3 million to $54.7 million and a non-GAAP operating loss of between $50.5 million to $61 million. The change in our outlook reflects lower deliveries in the first half of the year and a more conservative forecast based on our current backlog orders for the second half of the year as our customers continue to work through infrastructure permitting and delays.

展望未來，我們將 2023 年全年交付量指引修訂為 250 至 350 台，收入介於 3630 萬美元至 5470 萬美元之間，非 GAAP 運營虧損介於 5050 萬美元至 6100 萬美元之間。我們前景的變化反映了上半年交付量的下降，以及基於我們當前下半年積壓訂單的更為保守的預測，因為我們的客戶繼續努力解決基礎設施許可和延誤問題。

Our revised revenue range is supported by stronger than initially anticipated ASP and we expect our non-GAAP operating loss to improve compared to our original expectations, reflecting the cost efficiency progress we have achieved over the year.

我們修訂後的收入範圍得到了高於最初預期的平均售價的支持，我們預計我們的非公認會計準則營業虧損將比我們最初的預期有所改善，反映了我們在一年中取得的成本效率進展。

I'll now turn the call back over to Dakota.

我現在將把電話轉回達科他州。

Thanks, Liana. We are encouraged by our position at the forefront of the industry with established customer relationships, a second-generation vehicle in production and gross margin positive units in customer fleets. Though challenges remain, we are focused on maximizing our advantage over our competition, most of whom remain in the development phase of a first-generation product. Beyond complete trucks, the maturity of our vehicle technology is reflected in renewed interest in Xos powertrains for use in specialty and off-highway vehicles that we hope to share more on soon.

謝謝，莉安娜。我們處於行業前沿，擁有已建立的客戶關係、第二代汽車的生產以及客戶車隊毛利率為正值，這讓我們感到鼓舞。儘管挑戰依然存在，但我們致力於最大限度地發揮我們相對於競爭對手的優勢，其中大多數競爭對手仍處於第一代產品的開發階段。除了整車之外，我們車輛技術的成熟還體現在人們對用於特種車輛和非公路車輛的 Xos 動力系統重新產生興趣，我們希望很快能分享更多信息。

As we look towards the second half of this year, our internal strength and direct benefits from EV mandates and incentives have Xos on track for long-term success. We look forward to sharing that success with you in the coming quarters and remain committed to cost efficiency to maximize Xos' ability to deliver value to both our customers and shareholders.

展望今年下半年，我們的內部實力以及電動汽車指令和激勵措施帶來的直接利益使 Xos 走上了長期成功的軌道。我們期待在未來幾個季度與您分享這一成功，並繼續致力於提高成本效率，以最大限度地提高 Xos 為我們的客戶和股東創造價值的能力。

With that, let's open up the line for questions.

接下來，讓我們開放提問熱線。

(Operator Instructions) The first question comes from Donovan Schafer with Northland Capital.

（操作員說明）第一個問題來自 Northland Capital 的 Donovan Schafer。

I want to start with just the guidance. So you guys did lower to a bit but it is still quite high given the relatively low levels of deliveries in the first half of the year. So I'm just wondering if you can give us a sense of what kind of visibility you have there. How -- what the confidence level is like gives you that confidence? I believe Dakota if you could confirm this. If I heard it correctly, you said there were 120 to, I don't know, if it's 150 or something Loomis vehicles that you are sort of committed to delivering in the second half of the year, maybe that's a big part of that and the UniFirst 30, that's in there, just in general, kind of what the things you included there that gives you that confidence?

我想從指導開始。所以你們確實降低了一點，但考慮到上半年的交付水平相對較低，它仍然相當高。所以我想知道您能否讓我們了解一下您在那裡的知名度。信心水平如何給你帶來信心？如果你能證實這一點，我相信達科塔。如果我沒聽錯的話，你說有 120 輛，我不知道，如果是 150 輛或類似的 Loomis 車輛，你承諾在今年下半年交付，也許這是其中的很大一部分， UniFirst 30，就在那裡，一般而言，您在那裡包含的東西給了您這種信心？

Yes, absolutely happy to provide more context Donovan and good to connect. So for our revised guidance, we really wanted to make sure that we had 100% confidence in achieving the bottom end of that range. So just as you noted, we have several deliveries that are going to be made to Loomis in the range of 120 to 150 vehicles for the second half of the year. Many of those vehicles are actually hardy in production and are going to be shipping very soon from our facility. We've actually shipped some of them already.

是的，我非常樂意為多諾萬提供更多背景信息，並且很高興與您建立聯繫。因此，對於我們修訂後的指導，我們確實希望確保我們有 100% 的信心實現該範圍的下限。正如您所指出的，我們將在今年下半年向盧米斯交付 120 至 150 輛汽車。其中許多車輛實際上在生產中很耐用，並且很快就會從我們的工廠發貨。實際上我們已經發貨了其中一些。

And then we have several national accounts like UniFirst and others that are also going to be shipping in the very near future from the facility that we are basically finalizing predelivery inspections on and expect to go to customers, including folks like Canada Post. But really, we do have a strong conviction about being able to achieve those numbers.

然後，我們有幾個國民帳戶，例如 UniFirst 和其他帳戶，這些帳戶也將在不久的將來從我們基本上完成交付前檢查的設施發貨，並預計將交付給客戶，包括加拿大郵政等客戶。但實際上，我們確實堅信能夠實現這些數字。

The other really important dynamic here is that the large national fleets, many of them have been planning for infrastructure for some time now. So while infrastructure continues to be a hurdle in the quarters that we've seen, many of these customers have been installing infrastructure proactively that we know as these trucks come off the line, they're going to have a home and we can get them into service as quickly as possible.

這裡另一個真正重要的動態是大型國家船隊，其中許多船隊已經規劃基礎設施一段時間了。因此，雖然基礎設施在我們所看到的幾個季度中仍然是一個障礙，但許多客戶一直在主動安裝基礎設施，我們知道，隨著這些卡車下線，他們將有一個家，我們可以得到他們盡快投入使用。

Okay. That's helpful. And you actually kind of preempted my follow-up question that I was going to ask. What is it with -- given the infrastructure challenges, what is it that enables the company like Loomis to commit to some vehicles? So I guess if what I was asking said then is just if there are updates for what you're seeing and hearing kind of more directly on the EV infrastructure challenges, is it primarily -- are there equipment shortages I've heard? I think, like switch gear and disconnect cabinets that are often required on these sites with the higher voltages. Is that kind of supply chain there and that's where fleets of -- the larger fleets have been able to get out ahead of that or anticipated or even have better relationships with vendors to get their hands on product? Is it more just utilities, kind of being a stick-in-the-mud, combination of all of it, just any illumination on kind of trends or developments there and maybe what's the kind of more granular on why the fleet the big national operators can get around it.

好的。這很有幫助。你實際上搶先了我要問的後續問題。考慮到基礎設施的挑戰，是什麼讓像 Loomis 這樣的公司能夠致力於生產某些車輛？所以我想如果我問的只是你所看到和聽到的關於電動汽車基礎設施挑戰的更直接的更新，那麼主要是——我聽說過設備短缺嗎？我認為，這些電壓較高的場所通常需要開關裝置和斷路櫃。是否存在這種供應鏈？這就是大型車隊能夠提前或預期甚至與供應商建立更好關係以獲得產品的地方？它是否更只是公用事業，有點像墨守成規，所有這些的組合，只是對那裡的趨勢或發展的任何說明，也許更具體地說明為什麼機隊是大型國家運營商可以繞過它。

Yes. It's an important question. When we look at the process of deploying charging infrastructure, we start really as soon as we have the purchase order from the customer. And in many cases, we're actually having conversations now with customers that are recurring customers of ours to preplan more chargers than truck orders than we're receiving from them just because they know the time line for getting infrastructure deployed can be a lot longer than actually building a vehicle.

是的。這是一個重要的問題。當我們研究部署充電基礎設施的過程時，我們一收到客戶的採購訂單就真正開始了。在許多情況下，我們現在實際上正在與我們的常客進行對話，以預先計劃比我們從他們那裡收到的卡車訂單更多的充電器，因為他們知道部署基礎設施的時間可能要長得多比實際製造車輛更重要。

The 2 longest tent poles in the process of deploying infrastructure are the approval and getting permits for a specific site and getting additional power from the utility if there's not currently enough power on-site. And what we do whenever we start with Xos Energy Solutions and deploying charging infrastructure for customers, we actually do site assessments of several of their fleet locations, and that will consist of us going out to the utilities, inspecting the sites, seeing what existing power exists on-site and then actually preparing a plan that's going to enable them to maximize their deployments of vehicles and concentrated depots and also maximize incentives and minimize the amount of time to deploy vehicles in those areas.

部署基礎設施過程中最長的兩個支柱是特定站點的批准和許可，以及如果當前現場沒有足夠的電力，則從公用事業公司獲得額外的電力。每當我們開始使用 Xos 能源解決方案並為客戶部署充電基礎設施時，我們實際上會對他們的幾個車隊位置進行現場評估，其中包括我們前往公用事業公司，檢查現場，了解現有電力情況現場存在，然後實際制定一項計劃，使他們能夠最大限度地部署車輛和集中倉庫，並最大限度地提高激勵措施並最大限度地減少在這些區域部署車輛的時間。

So several customers, Loomis being obviously a big one of those, we're actually supporting with that infrastructure process. And we've gone through a couple of iterations of finding the perfect sites that can be deployed as quickly as possible, and we work through that with several other customers.

有很多客戶，盧米斯顯然是其中的一個大客戶，我們實際上正在支持該基礎設施流程。我們已經經歷了幾次迭代來尋找可以盡快部署的完美站點，並且我們與其他幾個客戶一起完成了這個工作。

In the cases where we can't get around that, we have been deploying hubs to some of those customers. The Xos Hub that we've talked about in previous quarters and also in this quarter is now going out to customers. And what we're doing is we're able to install that hub within about a week on-site and at least get up to 5 chargers to support the vehicles that are already there. And while that permitting is being permitted -- while that infrastructure is being permitted, approved or the utility is bringing additional power or it's being constructed, that hub can provide a small stop gap for smaller depots or depots where you have the power to be able to utilize multiple hubs. So it's really a useful tool as we start rolling more vehicles out to customers in these concentrated locations.

在我們無法解決這個問題的情況下，我們一直在為其中一些客戶部署中心。我們在前幾個季度和本季度討論過的 Xos Hub 現已向客戶推出。我們正在做的是，我們能夠在大約一周內在現場安裝該集線器，並至少獲得最多 5 個充電器來支持現有的車輛。雖然該許可正在獲得許可，但基礎設施正在獲得許可、批准，或者公用事業公司正在提供額外的電力或正在建設中，該樞紐可以為較小的倉庫或您有能力的倉庫提供一個小的臨時間隙利用多個樞紐。因此，當我們開始向這些集中地點的客戶推出更多車輛時，這確實是一個有用的工具。

That's helpful. And if I can squeeze just one more kind of detail question in honing in on the guidance. Do you have a sense for kind of how much -- if it would be weighted more towards the third quarter or the fourth quarter kind of between the 2 with pushouts from second quarter to third quarter, and you could look at that and think, "Oh, well, maybe that means the third quarter, that's going to be the big one", but you guys ramping, growing quickly and everything, tendency is going to be to favor fourth quarter and there's risk of further pushout. So maybe it's too early to say, but should we sort of be thinking was what's guided for the second half of the year is it will be more heavy in the third quarter or heavy in the fourth quarter?

這很有幫助。如果我能在磨練指導時再提出一種細節問題。你是否知道有多少——如果它會更多地偏向第三季度或第四季度，介於第二季度到第三季度之間，你可以看看並思考，“哦，好吧，也許這意味著第三季度，這將是一個重要的季度”，但是你們在加速，快速增長，一切，趨勢將有利於第四季度，並且存在進一步推出的風險。所以也許現在說還為時過早，但我們是否應該考慮下半年的指導是第三季度會更重還是第四季度會更重？

Yes. I think in looking at both of these quarters going to be a significant uptick from the previous 2 quarters for both of them. While there is still some seasonality because of the peak shipping season in October, November and December in Q4, we expect deliveries to carry over into Q4 and to potentially be a little bit higher than Q3. That being said, we're taking every possible opportunity to accelerate deliveries before the busy season. And so there's a chance that Q3 could come in a little bit higher if we're able to pull in some of those delivery dates or charging infrastructure commissioning.

是的。我認為，從這兩個季度來看，這兩個季度的業績都將比前兩個季度顯著上升。儘管由於第四季度 10 月、11 月和 12 月的運輸旺季，仍然存在一定的季節性，但我們預計交付量將延續到第四季度，並可能略高於第三季度。話雖如此，我們正在利用一切可能的機會在繁忙季節之前加快交付速度。因此，如果我們能夠推遲一些交付日期或充電基礎設施調試，那麼第三季度的業績可能會更高一些。

Okay. Yes, that's actually helpful because then it's just sort of like a positive thing. If you can get it all into the hands of everyone ahead of time, fantastic, but there's not like kind of downside to if it plays out the other way. Okay. That's helpful and that makes sense. I know yes, holidays that makes hard for the shippers is just so busy to take receipt of the equipment in the fourth quarter. All right. Congrats on the Loomis. The Loomis commitment that's fantastic, and I'll take the rest of my questions offline.

好的。是的，這確實很有幫助，因為這就像一件積極的事情。如果你能提前把一切都交到每個人手中，那就太棒了，但如果事情以相反的方式進行，也沒有什麼壞處。好的。這很有幫助，而且很有意義。我知道是的，假期對托運人來說很困難，他們在第四季度忙於接收設備。好的。恭喜盧米斯夫婦。盧米斯的承諾非常棒，我將把剩下的問題帶到線下。

Next question comes from Mike Shlisky with D.A. Davidson.

下一個問題來自 D.A. 的 Mike Shlisky。戴維森。

May be I want to touch first on some of the comments you made, Dakota on the ACF rules. We're 4.5 months away from just becoming [something that] people are starting to have to follow. I guess I'm curious I'm not setting any sort of urgency out there amongst fleets that actually trying to meet these rules. Can you give us a sense as to have your customer conversations and actual orders in your backlog increased over the last month or 2? It just seems like we're not seeing a lot of backlog change given that you start ordering only a few months.

也許我想首先談談達科他州關於 ACF 規則的一些評論。我們距離成為人們開始必須效仿的事物還有 4.5 個月的時間。我想我很好奇我並沒有在真正試圖滿足這些規則的艦隊中設置任何緊迫性。您能否讓我們了解您的客戶對話和積壓中的實際訂單在過去一兩個月內有所增加？鑑於您僅在幾個月內開始訂購，我們似乎沒有看到大量積壓訂單變化。

Yes, absolutely happy to provide more context, Mike, and thank you for the question. We have seen an uptick. And just to clarify, the phase-in milestone for the ACF rule is actually at the end of 2024 though the requirement date will be January 1, 2025. But for large fleets, that still means they need to start planning now at least 1 purchasing cycle in advance of the phase-in date to ensure that they're going to be compliant.

是的，非常樂意提供更多背景信息，邁克，並感謝您提出問題。我們看到了上升。需要澄清的是，ACF 規則的分階段里程碑實際上是在 2024 年底，儘管要求日期為 2025 年 1 月 1 日。但對於大型機隊來說，這仍然意味著他們現在需要開始計劃至少 1 次採購在分階段實施日期之前進行循環，以確保它們合規。

And we have started to see an uptick, particularly for those fleets that are going to be subject to the regulations. There's some recurring purchases as well as some new customer purchases that we've seen lately that have been driving additional demand for the vehicles. It's to be to determine when those vehicles will actually get delivered, if they're going to be a part of the end of Q4 or if they would be a part of deliveries in early next year, but we are seeing an uptick in order demand.

我們已經開始看到這種情況的增加，特別是對於那些將受到法規約束的車隊。我們最近看到一些經常性購買以及一些新客戶的購買推動了對車輛的額外需求。需要確定這些車輛何時實際交付，是否會在第四季度末交付，或者是否會在明年初交付，但我們看到訂單需求有所上升。

And just a little about the penalties if someone doesn't meet the rule. I mean, if someone has ordered a charging station and the PG&E is just so backed up. They can't install it. They don't have to transform a new buy. I mean it's not the fleets fault. So I guess, are there exemptions for those that just don't get the (inaudible) things out of control?

還有一些關於如果有人不遵守規則的處罰的信息。我的意思是，如果有人訂購了充電站，並且 PG&E 也有足夠的支持。他們無法安裝它。他們不必改造新購買的產品。我的意思是這不是艦隊的錯。所以我想，對於那些沒有讓（聽不清）事情失控的人是否有豁免？

We haven't seen any guidance on that from CARB and from the regulatory agencies. But we were remaining on top of it and trying to monitor the situation to make sure we can best inform our customers. If nothing does change, we have solutions like the hub that obviously can be a good soft gap in the short term, at least until customers are able to get the approval from the utilities and the permanent infrastructure completely commissioned.

我們還沒有看到 CARB 和監管機構對此提供任何指導。但我們仍在掌控局勢，並努力監控局勢，以確保我們能夠最好地通知我們的客戶。如果沒有任何改變，我們擁有像中心這樣的解決方案，這顯然可以在短期內成為一個很好的軟差距，至少在客戶能夠獲得公用事業公司的批准和永久基礎設施完全投入使用之前。

Okay. And you mentioned there's potential for 1,000 units of volume here, and I'm trying to figure out if any other company or the Xos on the stepvan side can fulfill that volume. I mentioned it last quarter, but now we had a major supplier of batteries, Proterra off (inaudible) this week. I think the only other player I think of in stepvans uses Proterra as a battery supplier today, another stepvan that's thought to be launched also has Proterra spec into their battery. So I mean not that they're going away anytime soon, but if any other companies are having challenges with getting stepvans out the door, what's your ability to step in and meet whatever demand they've got out of your factory?

好的。您提到這裡有 1,000 個單位的容量潛力，我正在嘗試弄清楚是否有其他公司或 Stepvan 方面的 Xos 可以滿足該容量。我上個季度提到過，但現在我們的主要電池供應商 Proterra 本週關閉（聽不清）。我認為我在 Stepvans 中想到的唯一其他玩家今天使用 Proterra 作為電池供應商，另一款預計推出的 Stepvan 的電池也採用了 Proterra 規格。所以我的意思並不是說他們很快就會消失，而是如果任何其他公司在推出輕便貨車方面遇到挑戰，那麼您有什麼能力介入並滿足他們從您工廠提出的任何需求？

Yes. It's a really, really important context. And you're right that several of the -- are the only other real competitor building stepvan chassis and electrified step van was utilizing a Proterra battery system. So that will definitely impact their ability to continue to deliver products. We can obviously ramp production pretty flexibly to support incremental growth and demand. The biggest thing we want to ensure for customers for their own success as they deploy these vehicles is that they've got that charging infrastructure ready to roll and ready to go.

是的。這是一個非常非常重要的背景。你是對的，其中一些是唯一的其他真正的競爭對手，他們製造的踏板貨車底盤和電動踏板貨車使用的是 Proterra 電池系統。因此，這肯定會影響他們繼續交付產品的能力。顯然，我們可以相當靈活地提高產量，以支持增量增長和需求。我們希望確保客戶在部署這些車輛時取得成功的最重要的事情是，他們擁有隨時可用的充電基礎設施。

And while we don't like to see any failures within this industry, the fact that we are going to be one of the few vendors that are going to be able to provide solutions for stepvan fleets obviously bodes well for us as the demand and regulations continue to advance the need for our vehicles.

雖然我們不希望看到這個行業出現任何失敗，但事實上，我們將成為少數能夠為步進貨車車隊提供解決方案的供應商之一，這顯然對我們來說是個好兆頭，因為需求和法規繼續提高對我們車輛的需求。

It also is a potential expansion for us as we think about our Powertrain business powered by Xos. We've been continuing to grow that business and actually are selling into some on-highway specialty vehicle applications now as well that could supplement and continue to build out our growth in the powered by Xos business, too.

當我們考慮由 Xos 提供支持的動力總成業務時，這對我們來說也是一個潛在的擴張。我們一直在繼續發展該業務，實際上現在也正在銷售一些公路特種車輛應用，這也可以補充並繼續推動我們在 Xos 業務方面的增長。

Okay. Maybe one last one for me. Can you maybe put some brackets around where you think your cash burn is going to be over the next 12 months? Just want to get a sense, obviously, for when and if you may have to ask an additional capital or whether you're okay for the foreseeable future.

好的。也許對我來說是最後一件事。您能否在您認為未來 12 個月內的現金消耗情況中添加一些括號？顯然，只是想了解一下您何時以及是否需要額外的資金，或者您在可預見的未來是否還好。

Thank you for the question. Happy to provide additional context. As we previously mentioned in our prepared remarks, we do have sufficient capital to go into 2024, and we also have made various cost reductions that we continue to evaluate and are also pursuing additional funding opportunities in the quarters to come.

感謝你的提問。很高興提供額外的背景信息。正如我們之前在準備好的發言中提到的，我們確實有足夠的資金進入2024 年，我們還進行了各種成本削減，我們將繼續評估這些成本，並在未來幾個季度尋求額外的融資機會。

Our next question comes from Jerry Revich with Goldman Sachs.

我們的下一個問題來自高盛的傑里·雷維奇。

Dakota, in terms of your cost of goods sold, so that was up sequentially more than unit shipments, I'm wondering can you just talk about what proportion of that is overhead and any moving pieces from here because it looks like the COGS per unit was up sequentially.

達科他州，就您的銷售商品成本而言，其增幅連續超過單位發貨量，我想知道您能否談談管理費用和任何移動部件的比例是多少，因為它看起來像每單位的銷貨成本依次上升。

Happy to provide additional context on that. So the primary drivers of why cost of goods sold was up sequentially this quarter was just overall lower average selling price as well as additional inventory write-downs and the reserves that we took this quarter. That was more a part of standard course of business and specific to this quarter.

很高興就此提供更多背景信息。因此，本季度銷售成本環比上升的主要驅動因素是平均售價總體較低以及額外的庫存減記和我們本季度採取的準備金。這更多的是標準業務流程的一部分，並且是針對本季度的。

And how much was the write down?

減記了多少？

The write-down was -- for the quarter was approximately $1.1 million.

該季度的減記約為 110 萬美元。

Okay. Okay. And then in terms of the transition to new truck production in the back half of the year out of the guidance for back half deliveries, what proportion are going to be the new truck where you expect positive gross profit contribution versus the previously priced first-generation truck?

好的。好的。然後，就下半年交付指導中的下半年向新卡車生產的過渡而言，與之前定價的第一代相比，您預計將產生正毛利潤貢獻的新卡車將佔多少比例卡車？

Yes. We don't have a specific split between older inventory and the newer inventory, but the majority of vehicles will be the newer inventory that is positive gross margin. And the other thing that we noted, which is really important as we look at the back half of the year and as part of the revised guidance is we're delivering a significantly larger proportion of our long-range vehicles, including the long-range stripped chassis for specialty vocational applications as well as long-range stepvans, and those actually are higher ASP vehicles because of the larger battery size. They're double the battery that's on board a 100-mile range vehicle. So it drives higher ASPs, and it helps also lower our inventory levels for the tail end of the year. Those platforms are also higher gross margins than our typical 100-mile range vehicle.

是的。我們沒有對舊庫存和新庫存進行具體劃分，但大多數車輛將是毛利率為正的新庫存。我們注意到的另一件事非常重要，當我們回顧今年下半年時，作為修訂後的指導的一部分，我們正在交付更大比例的遠程車輛，包括遠程車輛用於特殊職業應用的剝離底盤以及遠程旅行車，由於電池尺寸較大，這些實際上是ASP 較高的車輛。它們的電池容量是行駛 100 英里的車輛上電池的兩倍。因此，它推動了更高的平均售價，也有助於降低我們年底的庫存水平。這些平台的毛利率也高於我們典型的 100 英里續航里程車輛。

Okay. And I'm wondering if you folks wouldn't mind just expanding on your prepared remarks comments on transitioning production in-house. What exactly the time line looks like? And what are the steps in that process? And just a few more words on what's driving the change in the profile.

好的。我想知道你們是否介意擴大你們準備好的關於內部生產轉型的評論。時間線究竟是什麼樣的？這個過程有哪些步驟？再簡單說明一下是什麼推動了個人資料的變化。

Jerry, this is Gio. I appreciate the question. The transition has been complete as of the end of Q2, start of Q3. And so that's just taking the employees that were previously on our contract manufacturers payroll over to Xos payroll and assuming that responsibility.

傑瑞，這是吉奧。我很欣賞這個問題。截至第二季度末、第三季度開始，過渡已完成。因此，這只是將之前在我們合同製造商工資單上的員工轉移到 Xos 工資單上並承擔該責任。

And Gio, can you just say more about the rationale? Just expand on what's driving the change, please.

Gio，你能多談談理由嗎？請詳細說明推動變革的因素。

Yes. So we've been working with them for a few years now. And I think we just got to a place where the Xos team was deeply involved in the factory and the operation already. We had our own quality folks on-site or on manufacturing engineering folks on site, and it just make sense to streamline and simplify by bringing those folks on to the Xos team rather than having that sort of arm's length contract manufacturing relationship in place, and that's made things run a bit more smoothly and it's also an opportunity to reduce costs as well.

是的。所以我們已經與他們合作了幾年。我認為 Xos 團隊已經深入參與了工廠和運營。我們有自己的現場質量人員或現場製造工程人員，通過將這些人員引入 Xos 團隊來簡化和簡化是有意義的，而不是建立那種保持一定距離的合同製造關係，並且這使得事情運行得更加順利，同時也是降低成本的機會。

And the magnitude of cost reduction that you're anticipating 3Q versus 2Q as a result?

您預計第三季度與第二季度相比成本降低的幅度是多少？

From a manufacturing standpoint, our manufacturing costs will see savings on fees that are around 5% to 10%, but there's probably additional operational savings that come from improved communications and improved time line to get vehicles assembled and delivered.

從製造的角度來看，我們的製造成本將節省約 5% 至 10% 的費用，但由於通信的改善以及車輛組裝和交付的時間安排的改善，可能還會節省額外的運營費用。

The next question comes from Sherif El-Sabbahy with Bank of America.

下一個問題來自美國銀行的 Sherif El-Sabbahy。

So just staying with the change in bringing production in-house, have you begun to produce packs internally? Or are all the packs on the new vehicles still coming from CATL as a supplier?

那麼，隨著內部生產的變化，你們是否已經開始在內部生產包裝了？或者新車上的所有電池組仍然來自寧德時代作為供應商嗎？

We are producing both packs. So we're producing the Xos packs for vehicles as well as utilizing packs from CATL.

我們正在生產這兩種包裝。因此，我們正在生產車輛用 Xos 電池組，並使用 CATL 的電池組。

Understood. And are you able to get a sense of are these CATL packs covering the majority of the new product platform versus the legacy? If you can give a break out there.

明白了。您能否了解這些 CATL 包是否涵蓋了大部分新產品平台與舊產品平台？如果你能在那裡休息一下的話。

Yes, we don't have existing breakdowns of how many are utilizing for our packs or how many utilizing the LFP packs. But we're continuing to utilize both of the systems, and we're seeing strong performance across different applications in use cases that are more suitable to different chemistries NMC or LFP.

是的，我們目前沒有關於有多少人使用我們的包或有多少人使用 LFP 包的詳細信息。但我們將繼續使用這兩個系統，並且我們在更適合不同化學物質 NMC 或 LFP 的用例中看到不同應用程序的強大性能。

Understood. And just with vehicles that have been produced but aren't delivered, are you able to give us a sense of the scale of how much you've produced year-to-date?

明白了。對於已經生產但尚未交付的車輛，您能否讓我們了解一下您今年迄今為止的生產規模？

We don't actually guide to that, but we have been moving through inventory and continuing to move into our 2023 stepvan model, which is going to be the positive gross margin model, that will be the majority of shipments for the second half of the year.

我們實際上並沒有指導這一點，但我們一直在清理庫存，並繼續進入我們的 2023 年 Stepvan 車型，這將是正毛利率車型，這將是下半年的大部分出貨量年。

The next question comes from Mike Shlisky with D.A. Davidson.

下一個問題來自 D.A. 的 Mike Shlisky。戴維森。

Thanks to taking my follow ups, I just 2. One, in the transition to in-house manufacturing, [want to] confirm there's no additional CapEx or other costs that have to take place. It's just where they had the paycheck. Is that basically the idea?

感謝我的跟進，我只是 2。第一，在向內部製造過渡的過程中，[想要]確認沒有額外的資本支出或其他必鬚髮生的成本。這就是他們發薪水的地方。這基本上是這個想法嗎？

There was an incremental CapEx investment that was made in Q1 and Q2, a very nominal amount. We bought some fixtures and equipment associated with the facility, but I believe it was less than $1 million in incremental CapEx.

第一季度和第二季度進行了增量資本支出投資，但金額非常小。我們購買了一些與該設施相關的固定裝置和設備，但我相信增量資本支出不到 100 萬美元。

Okay. Got it. I just wanted to ask the folks who've actually received the 2023 truck model, have you gotten any feedback as to how they're performing compared to the previous year's model as far as range, reliability, et cetera? Anything that you can give us on how different the product is in the field will be appreciated.

好的。知道了。我只是想問一下那些實際收到 2023 款卡車的人們，你們是否收到了關於與前一年的車型相比，它們在續航里程、可靠性等方面表現如何的反饋？如果您能向我們提供有關該產品在該領域有何不同的任何信息，我們將不勝感激。

Yes, there's been several improvements, Mike. First of which is one you mentioned, which is the range increase, so we have an incremental 20-kilowatt hours on board of energy storage as well as a different software package and different sub-ranging the battery system, which means a longer-range vehicle, and that really is important for the extreme climates. So in parcel delivery where they typically still do under 100 miles a day, we are seeing in some of the extreme range climates or extreme climate areas where we have vehicles deployed like in Canada and northern climates, they are utilizing their heater systems really for the full length of their routes during the day. And so that has incremental weight on the battery, but we're still able to achieve that 100-mile range with this new pack system.

是的，有一些改進，邁克。第一個是你提到的，那就是續航里程的增加，所以我們在能量存儲上增加了20千瓦時，以及不同的軟件包和不同的電池系統子範圍，這意味著更長的續航里程車輛，這對於極端氣候來說確實很重要。因此，在包裹投遞中，他們通常每天的行駛里程仍低於100 英里，我們看到在一些極端範圍的氣候或極端氣候地區，我們部署了車輛，例如在加拿大和北部氣候地區，他們正在利用其加熱器系統真正用於白天的完整路線。因此，這會增加電池的重量，但我們仍然能夠通過這種新的電池組系統實現 100 英里的續航里程。

The other improvements really center around a lot of the driver comforts and driver -- drivability of the vehicle. So our new cooling system on the vehicle has a much more robust HVAC system, which is already being noticed by the drivers. We also have our new cluster and new software package on this vehicle, which is being appreciated by the drivers. And with the capability to do over-the-air updates on this platform and flash new software releases, we anticipate continuing to improve the software and efficiency of the vehicle, as well as releasing several incremental hardware improvements to this vehicle over time that customers will get the benefit of and ultimately will accrue to the drivers and fleet operators in the form of reduced TCO.

其他改進實際上主要圍繞駕駛員的舒適度和車輛的駕駛性能。因此，我們車輛上的新冷卻系統具有更強大的 HVAC 系統，駕駛員已經註意到了這一點。我們還在這輛車上配備了新的集群和新的軟件包，這受到了駕駛員的讚賞。憑藉在該平台上進行無線更新和發布新軟件版本的能力，我們預計將繼續改進車輛的軟件和效率，並隨著時間的推移對該車輛發布多項增量硬件改進，客戶將駕駛員和車隊運營商將受益並最終以降低總體擁有成本(TCO) 的形式獲益。

And I would just add to that and double click on what Dakota said as far as over-the-air updates. This is a huge deal to our customers, having the ability to not only monitor their fleet remotely, but also push software updates when needed. This is a really unique capability in the commercial vehicle space. I think we might be one of the only, if not the only, commercial truck provider that is offering over-the-air update capability in our vehicles.

我只想補充一下，然後雙擊達科他州所說的無線更新內容。這對我們的客戶來說意義重大，他們不僅能夠遠程監控他們的車隊，還能夠在需要時推送軟件更新。這在商用車領域確實是一項獨特的功能。我認為我們可能是唯一（如果不是唯一）在車輛中提供無線更新功能的商用卡車提供商之一。

I'll also mention that in addition to customer feedback, the customers being excited about the new platform, these vehicles also went through a very intense battery of tests both in thermal chambers as well as durability, so completed thousands of miles of real-world durability testing. Anecdotal, but the folks at the durability track, technicians and drivers who test commercial vehicles all day long. I mentioned that this is the highest quality EV they've seen that's come through their facility in terms of the build quality and the performance on the durability course.

我還要提到的是，除了客戶反饋之外，客戶對新平台感到興奮，這些車輛還經過了一系列非常嚴格的熱室和耐用性測試，因此在現實世界中完成了數千英里的測試耐久性測試。有趣的是，耐久性賽道上的人們、整天測試商用車的技術人員和車手。我提到，就製造質量和耐久性課程的性能而言，這是他們見過的最高質量的電動汽車。

This concludes our question-and-answer session. I would like to turn the conference over to Dakota Semler for any closing remarks.

我們的問答環節到此結束。我想將會議交給達科塔·塞姆勒 (Dakota Semler) 發表閉幕詞。

Thank you, operator, and thank you, everybody, for joining us today. We appreciate all of these insightful questions and inputs. And as we continue to deliver vehicles through the second half of the year, we want to reiterate the 3 core tenets that we've been focused on over the last year, which is growing the demand and the deliveries of our products, and we expect to see that in the third and fourth quarter; improving gross margins, which we also expect to see as we launch the new platform of our 2023 stepvan and stripped chassis into customer hands; and maintaining healthy access to capital to ensure we are strongly positioned to fund and scale the business, which we see into 2024 and continue to work with the capital markets to find other sources of capital to help grow the opportunities that we have within Xos.

謝謝接線員，也謝謝大家今天加入我們。我們感謝所有這些富有洞察力的問題和意見。隨著我們在下半年繼續交付車輛，我們想重申去年我們一直關注的 3 個核心原則，即我們產品的需求和交付量不斷增長，我們預計在第三季度和第四季度看到這一點；提高毛利率，當我們向客戶推出 2023 年款 Stepvan 的新平台和拆裝底盤時，我們也預計會看到這一點；保持健康的資本獲取渠道，以確保我們有能力為業務提供資金和規模擴張，我們預計到 2024 年，我們將繼續與資本市場合作，尋找其他資本來源，以幫助擴大我們在 Xos 中擁有的機會。

Thank you, everybody, for your questions and your time today. Looking forward to catching up with you on our next earnings call.

謝謝大家今天的提問和抽出時間。期待在我們的下一次財報電話會議上與您會面。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

會議現已結束。感謝您參加今天的演講。您現在可以斷開連接。