In an effort to overcome the cost barriers to buying electric vehicles, electric truck maker Xos Trucks Inc. on Tuesday announced a partnership with DLL to help finance the leasing of its all-electric commercial vehicles.
DLL is a global asset finance company and subsidiary of Rabobank Group.
The Xos Financing program will offer two types of full-service leases of the company’s electric vehicles and charging equipment to fleets, helping them reduce energy, field and maintenance costs, a spokesperson said in an email to FreightWaves.
An operating lease will allow fleets to lease an electric vehicle without significant upfront investment. A capital lease targets the same goal but on a longer term.