RTTNews | Nov 23, 2021 10:26AM EST

10:25 Tuesday, November 23, 2021 (RTTNews.com) - Shares of XL Fleet Corp. (XL), a fleet electrification solutions provider for commercial vehicles, are surging more than 21% Monday morning after the company said it received contract from the Department of Defense to prototype fuel-saving technology for military vehicles.

The pilot program began on October 1, 2021, and will run for 13 months, the company said.

XL Fleet sees this Department of Defense pilot program as part of a future contract opportunity to leverage the hybrid conversion technology for a significant number of vehicles in a variety of U.S. military applications.

"We are honored by the opportunity to compete for this highly selective U.S. Government contract to develop fuel-saving solutions for a wide range of applications for tactical military vehicles," said Tod Hynes, Founder and President of XL Fleet.

XL is at $5.65. It has traded in the range of $4.49- $35 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3244447/xl-fleet-spikes-on-receipt-of-contract-from-dept-of-defense.aspx)

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