EVs are making their way into every crevice of the economy. The latest is armored electric vehicles, as the cash-handling industry moves to reduce emissions. Cash delivery giant Loomis says it’s expanding its partnership with Xos, ordering an additional 150 armored EVs to use for US operations.
Loomis orders 150 armored electric vehicles from Xos
Those armored cars you see pick up cash from banks and retail stores are likely Loomis.
With a rich history that began during the California gold rush, Loomis is transforming for the modern age. What started as the “Pony Express,” transporting packages from the West to East coasts of the US, has become a global cash-handling powerhouse with around 400 local offices across 20 countries.
Now the company is expanding once again, but this time with zero-emission armored electric vehicles. The armored EVs will be manufactured by California-based commercial EV maker Xos.
Founded in 2016, Xos is on a mission to decarbonize commercial transport while providing a seamless transition for fleet owners from ICE cars to fully electric.
Xos builds fully electric medium and heavy-duty EVs, electric powertrains, and the corresponding charging infrastructure.
In a press release today, Xos revealed it will expand upon its initial partnership with Loomis, signing a purchase agreement to supply 150 armored electric vehicles for use in US markets.
At the end of 2022, Loomis had 20 Xos armored EVs in its fleet. The expansion will help Loomis reduce emissions from fleet use, its most significant climate impact. Loomis CEO explained:
We have made a commitment to reduce carbon emissions from our business and have set out to lead the transformation in the industry. By significantly increasing the number of EVs in U.S. operations, we are on our way to both reducing our own emissions and helping our customers reach their targets while maintaining our high security standards.
The electric vehicles will be gradually delivered throughout the year, and Loomis will implement them into its fleet in the second half of 2023. As an industry first, Loomis issued a sustainability-linked bond with the value linked to a 20% reduction in CO2.
In addition, Loomis is working to shift operational energy needs to 100% renewable energy with several solar panel projects in the pipeline.
By 2024, Loomis is looking to achieve a 15% reduction in CO2 compared to 2019 levels, and the armored EVs are expected to play a critical role in getting it there.