Xos
EV truckingUSA
New to Unitard
📉 Public < $1B
Peak $2 BillionToday
−98%
from peak
- 🦄Became a unicorn2021
- 📈Peak valuation$2 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$36.1M
Current status
Public (XOS)
Live · XOS· NasdaqCM
as of 2026-09-21
$2.54▼ 1.55% today
≈ $36.1 Million market cap · −98.2% from peak
The rise & fall
5 moments · 2016–2023The key moments, with employee sentiment along the way.
2016
2016
Founded in Los Angeles as Thor Trucks
Dakota Semler and Giordano Sordoni set out to electrify the delivery truck; the company is later renamed Xos.
TechCrunch
2021
2021
The peak: a $2B SPAC debut$2B
Lists on the Nasdaq via SPAC in the EV-truck frenzy — unicorn and public company in one step.
SEC filing
2022
2022
Production stalls, demand doesn't show
Production challenges meet weak fleet demand, and the losses keep coming.
SEC filing
2022
2022
Slips out of the club
The market cap slides below $1B within a year of the debut — on its way to under $0.1B.
Macrotrends
2022–23
From the inside · Glassdoor reviews, 2022–23
Employee reviews from the slide described how the belt-tightening felt inside: layoff rounds arriving with grim regularity, priorities and org charts reshuffled every few months, and raises promised but repeatedly deferred as budgets shrank — even as many reviewers kept vouching for the trucks and the mission.
Today
Today
Still in the club — and still trading
Live · XOS · NasdaqCMas of 2026-09-21
$2.54▼ 1.55% today≈ $36.1M cap · −98.2% from peak
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Xos is an electric commercial-truck maker that went public via SPAC in 2021 at a valuation of about $2B. Production challenges, weak demand and ongoing losses sent shares plunging, cutting its market cap to under $0.1B and erasing its unicorn status.
Source: De-SPAC 2021
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
