145 Newton Street
Boston, MA 02135
Phone: (617) 718-0329
Fax: (617) 507-5585
The XL Hybrids Vision
Driven by the enormous challenge of reducing oil consumption in U.S. transportation, XL Hybrids is a transformative energy company focused on transportation. Each of the founders has entrepreneurial experience in the energy sector and came together through MIT’s world-class energy community. We decided to launch XL Hybrids with the mission to reduce fuel consumption for commercial fleets and lower total cost of ownership for customers by optimizing electric drive technology.
We recognized that hybrid vehicle technology, while widely available for consumers, was not available at a price that could trigger mass adoption by those that use the most fuel and could gain the most from the technology: commercial fleets. Battery, motor, power electronics, and control technology have been rapidly improving, creating an opportunity for a small company to design a hybrid electric system that not only reduces fuel consumption but actually saves fleet customers and small businesses enough money to generate an attractive return on investment.
Furthermore, the team at XL Hybrids realized that vehicle turnover in the broader fleet is measured in decades and that to make a near- and medium-term impact, hybrid technology would have to be applicable to vehicles already on the road as well as new vehicles entering the fleet. The ability to make existing vehicles more efficient and to accelerate the adoption of new technology in less time than the typical five-year (or longer) automotive product development cycle is a game-changer. Ask the experts who simulate and study technology adoption and fuel efficiency trends in the automotive sector and they will tell you that they are not taking retrofits or faster-than-historical-rates of adoption of technology into account in the models.
The team at XL Hybrids started by speaking to stakeholders, including fleet managers, mechanics, dealers, finance and leasing experts, corporate executives and others to map out the requirements for developing a hybrid technology that fleets will actually buy. It turns out that fleet managers and executives, too, have been searching for a cost-effective solution to reduce their fuel use, emissions and exposure to increasingly volatile fuel prices.
XL Hybrids vision is to develop and sell a game-changing, cost-effective, aftermarket hybrid electric system to commercial fleets that enables our fleet customers, including small businesses, to:
- Save money
- Reduce fuel consumption
- Reduce emissions
- Reduce exposure to fuel price volatility
- Exceed sustainability goals
XL Hybrids is headquartered in Boston, Mass. The company will begin pilot testing in New England, followed by a rollout in major U.S. cities by mid-2012, and is targeting national availability by early 2013.