HAMBURG, Germany, January 24, 2025 (Globe Newswire) — In the release issued by XCHG Limited on January 21, 2025 (NASDAQ: XCHG ), please note that an incorrect version of the release was distributed. The corrected edition follows:
XCHG LIMITED (XCARKE or the Company), (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced a collaboration with a leader in the rental car space to enhance its charging offerings at US airport facilities. Xcharge has completed charging station construction at rental company locations at several major East Coast airports and has secured a pipeline of future projects at additional rental company airports along the East Coast.
Xcharge’s chargers and efficient installation process quickly strengthened the rental airport’s charging infrastructure, helping it meet its standards and goals for expanding the EV fleet. Given their relatively small footprint and utility grid constraints, US airport rental locations face unique challenges in EV adoption. Comprehensive Xcharge solutions are designed to work within these limits, offering quick, easy installation without the need for intensive site upgrades, maximizing efficiency and reducing structural complexity.
Furthermore, Level 3 charging stations empower shorter charging cycles compared to Level 2 solutions typically used at existing airport locations, solving bottlenecks for rental car services and improving customer satisfaction. On the company’s initial airport project for a rental company, Xcharge’s simultaneous charging technology significantly reduced the average charging time, improving charging speed by more than tenfold.
Aatish Patel, President of Xcharge, said, We are delighted with the positive outcomes of this collaboration. The results underscore our commitment to being more than just a hardware supplier “We want to solve the most important concerns of our partners as efficiently as possible, whether it’s website design, operational efficiency or even EV charging for education. By focusing on the broader needs of those we work with, we have created turnkey solutions that effectively address key challenges. We look forward to expanding this collaboration and bringing our high-quality filling services to larger customers across the country.
With anxiety charging a top concern for EV drivers, especially the first-tier, Xcharge will continue to strategically increase its presence in locations with significant organic consumer traffic to bring its convenient, large-scale charging services to a wider audience.
About X.
Xcharge (NASDAQ: XCH), founded in 2015, is a global leader in integrated EV charging solutions. The company offers comprehensive EV charging solutions, which primarily include DC fast chargers and advanced battery-integrated Fast Chargers, as well as their accompanying services. Through the combination of Xchard’s charging technology, energy storage technology and supporting services, the company improves EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, Xcharge is actively working to establish a global green future that is crucial for long-term growth and development.
Safe harbor statement
This press release contains forward-looking statements. These statements are made pursuant to the Safe Harbor provisions of the US Private Securities Reform Act of 1995. Statements that are not historical facts, including statements about the company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements appear to be words or phrases such as may, will, expect, anticipate, aim, target, estimate, intend, plan, believe, potential, continue, are/are likely or other similar expressions. All information set forth in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required by applicable law.
For investor and media inquiries, please contact:
X billing
Department
Email: ir@xcharge.com
Piacenta financial communications
Brandi Piacente
Phone: +1-212-481-2050
Jenny Cai
Phone: +86 (10) 6508-0677
Email: xcharge@tpg-ir.com
Source: XCHG LIMITED
