XL, a growing provider of vehicle electrification solutions for commercial and municipal fleets, made two significant announcements designed to capitalize on the company’s current momentum and position the business for rapid, sustainable growth in 2020 and beyond.
First, on 4 October, XL acquired the electrification division of Quantum Fuel Systems, an industry leader in alternative fuel systems for the automotive and heavy duty fleet industries.
Per the terms of the transaction, XL acquires the engineering staff and technology assets of Quantum Fuel’s EV division, providing capacity to accelerate its product development plans for heavy duty and fully electric propulsion applications. XL will continue to operate Quantum’s Lake Forest, California office, expanding its presence within one of the most prominent states for EV sales.
Second, XL has appointed Dimitri Kazarinoff, an accomplished transportation industry executive who led impressive growth at Eaton Corporation and AVL Powertrain Engineering, as its new CEO. XL founder and original CEO Tod Hynes is remaining with the company as Chief Strategy Officer and will maintain his position on the company’s Board of Directors.
Kazarinoff successfully scaled the hybrid power systems division of Eaton Corporation by 15x within two years, and delivered record profits for AVL’s North American P&L. He sees XL as being at a similar inflection point, with an opportunity for rapid and sustainable growth.
I’m thrilled to be leading XL into a bold new era of fleet electrification. Demand for sustainable commercial transportation has never been greater, and XL is well positioned to drive the industry’s transition to electrified fleet vehicles.—Dimitri Kazarinoff
In addition to Kazarinoff, XL added Rob Kisiel to its leadership team, as VP of Supply Chain and Production. With two decades of diverse supply chain experience across a wide range of industries, Kisiel is responsible for optimizing XL’s supplier partner and installation ecosystem and scaling it for growth.
p>With the fleet-ready XLH hybrid electric drive system and the XLP plug-in hybrid electric drive system, Class 2 to 6 commercial and municipal customers can increase fuel economy by up to 25-50 percent and reduce carbon dioxide emissions by up to 20-33 percent, decreasing operating costs and meeting sustainability goals with no impact on fleet operations.