BOSTON--(BUSINESS WIRE)--XL Hybrids, Inc., the pioneering developer of hybrid electric powertrain technology for commercial and municipal fleets, today introduced special financing options through Priority One Financial Services, Inc., a commercial and recreational equipment finance provider and wholly-owned subsidiary of Forest River, Inc. The new financing allows XL Hybrids’ customers to retrofit current fleet vehicles and pay for the hybrid system over time. Customers can also refinance their existing vehicles or order new vans and buses with the XL3 Hybrid Electric Drive System.
“For individual operators and fleet managers considering the benefits of XL Hybrids’ electric powertrain technology, our competitive lease and finance options help make the conversion and cost that much simpler to budget,” said Jared Zimlin, business development director at Priority One Financial Services. “Now meeting state and federal mandates, while going ‘green’ with the XL3 Hybrid Electric Drive System, is simple and affordable to adopt.”
The new XL Hybrids financing through Priority One Financial Services is ideal for mid-sized and smaller fleets, providing:
- Easy one-page application process
- Options to upfit new vans or buses or retrofit current fleet vehicles
“Our XL3 is already the lowest priced, highest quality hybrid electric solution available for class 2-4 vehicles,” said Tod Hynes, president and founder of XL Hybrids. “This new financing removes the upfront cost barrier and enables customers to immediately start reducing fuel use and CO2 emissions by 20 percent and meet sustainability targets.”
Vehicles equipped with the XL3 hybrid system drive just like other fleet units with no driver training required. The charge-sustaining powertrain technology reduces operating and maintenance costs without the need for plugs or special fueling infrastructure.
The XL3 Hybrid Electric Drive saves fuel through regenerative braking, a process by which the electric motor helps slow the vehicle when the driver brakes, charging the battery. When the driver accelerates, the battery releases the energy to the electric motor, helping propel the vehicle.
About XL Hybrids
XL Hybrids is the pioneering developer of hybrid electric powertrains that deliver a 25 percent increase in miles driven per gallon and reduce carbon dioxide emissions. Recognized as one of the World’s 50 Most Innovative Companies by Fast Company in 2014, XL Hybrids supports customers such as The Coca-Cola Company and FedEx. The patent-pending XL3 Hybrid Electric Drive System is a revolutionarily simple solution that helps commercial and municipal fleets lower operating costs and meet sustainability goals. For new Class 1 to 4 commercial fleets, as well as vehicles that are already on the road, the system is installed in just five hours, and works seamlessly in the background with zero impact on fleet operations or service, and no driver training or infrastructure requirements. XL Hybrids was founded by MIT alumni and is based in Boston. For more information, visit www.xlhybrids.com or on Twitter @XLHybrids.
About Priority One Financial Services
Priority One Financial Services has been offering competitive financing options since 1987 and is currently serving the bus, trailer, marine and RV industry. Acquired in 2007 by Forest River, Inc. a Berkshire Hathaway company, Priority One serves as the F&I managed services provider for hundreds of dealers nationwide. Dealers who use Priority One will see an increase in loan approvals and F&I profit. For more information, visit http://www.p1fs.com/pdf/Bus_Flyer_Full_Page_for_Dealers.pdf.
