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The Shyft Group Acquires XL Fleet

THE ACQUISITION ADDS TECHNICAL TALENT TO SHYFT’S BLUE ARC EV SOLUTIONS AND INCLUDES WIXOM, MICHIGAN, FACILITY AND A DEPARTMENT OF DEFENSE (DOD) PILOT DEVELOPMENT AGREEMENT

The Shyft Group, Inc. announced its acquisition of XL Fleet as planned and initially announced by Spruce Power last month. The acquisition includes the option to extend employment opportunities to XL Fleet technical talent. Shyft will also assume a short-term leased facility including equipment in Wixom, Michigan. It will also support the completion of a pilot development agreement with the Department of Defense.

“Blue Arc, which Shyft unveiled at NTEA Work Truck Week last year, brings fleet electrification solutions that leverage our 50 years of experience in last-mile delivery, a noteworthy anniversary which we celebrate this year,” says Daryl Adams, president and CEO of The Shyft Group. “The response to Blue Arc’s commercial-grade offering has been strong. With the ramp up of EV production in 2023, we welcome the opportunity to integrate talent and discrete assets that will help us charge ahead to meet the electrification needs of our customers.”

EXPANDING THE TEAM

Eric Fisher, SVP and general manager of Shyft Innovations, says it thrills the company to integrate XL Fleet with Shyft. He says expanding the team has always been part of the plan as the group moves toward production. He also says the timing worked out to allow Shyft to bring significant talent in this way of acquisition. “We expect it to help accelerate our build-out capability,” Fisher says.

The incoming team members will be based either in Plymouth or the 24,655-sq-ft Wixom Technology Center. Shyft will to use the Wixom facility for technical and test work while evaluating how the facility complements its footprint.

The DOD pilot program Shyft assumed as part of the acquisition supports the completion of an awarded contract by the Defense Innovation Unit (DIU) of the Department of Defense and the US Army’s Project Manager Transportation Systems (PMTS) to prototype a fuel-saving technology for military vehicles. Shyft will help complete the application of sustainable fleet vehicle technologies to extend the operational range of military tactical vehicles. The technologies will also help support troops’ safety, provide significant fuel and operating cost savings, and reduce greenhouse gas emissions.

Find out more, visit www.theshyftgroup.com.

 

 

News courtesy of Lambert & Co.

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