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XCharge and Hertz Collaborate to Upgrade EV Charging Infrastructure at Major US East Coast Airports

1. XCharge partners with Hertz to enhance airport EV charging solutions. 2. High-speed C6 chargers reduce charging time by over tenfold. 3. Future projects planned at additional Hertz airport locations. 4. Collaborative solutions focus on efficiency in EV rental services.

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FAQ

Why Bullish?

XCharge's collaboration with Hertz may drive revenue and market presence, similar to other partnerships boosting stock performance.

How important is it?

The partnership significantly impacts XCharge's operational capabilities and market growth in the EV sector.

Why Long Term?

Strategic partnership will enhance XCharge's market position and consumer awareness over time.

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HTZTSLABLNK
HAMBURG, Germany, Jan. 21, 2025 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”), (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced a collaboration with Hertz (NASDAQ: HTZ) to upgrade Hertz’s EV charging offerings at US airport rental facilities. XCharge has completed charging station construction at Hertz’s rental sites in three major East Coast airports and has secured a pipeline of future projects at additional Hertz airport locations along the eastern seaboard. XCharge’s high-speed chargers and efficient installation process have rapidly strengthened Hertz’s airport charging infrastructure, helping Hertz meet its service standards and goals for expanding its EV rental fleet. Given their relatively small footprint and utility grid constraints, U.S. airport rental car locations face unique challenges in EV adoption. XCharge’s comprehensive solutions for Hertz were designed to work within these boundaries, offering fast, simple installation without the need for intensive site upgrades, maximizing efficiency and reducing the complexity of construction. Hertz operations at major airports now charge EVs with XCharge’s cutting-edge C6 charging stations Furthermore, XCharge’s Level-3 charging stations empower shorter charging cycles compared with the Level-2 solutions commonly used in existing airport locations, resolving rental car service bottlenecks and enhancing customer satisfaction. At the Company’s initial Hertz airport project, 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’re thrilled by the positive outcomes of our collaboration with Hertz. The results underscore our commitment to being more than just a hardware supplier – we want to resolve our partners’ most pressing concerns as efficiently as possible, whether that is site design, operational efficiency, or even EV charging education. By focusing on Hertz’s holistic needs, we have created turnkey solutions that quickly and effectively address pain points across their location portfolio. We look forward to expanding our cooperation with Hertz and bringing our high-quality charging services to more rental car customers nationwide.” With charging anxiety remaining a top concern for EV drivers, especially first-timers, XCharge will continue to strategically elevate its presence in locations with substantial organic consumer traffic to introduce its convenient, high-speed charging services to a broader audience. About XCharge 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 DC fast chargers as well as their accompanying services. Through the combination of XCharge’s proprietary charging technology, energy storage system technology and accompanying services, the Company enhances 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 toward establishing a global green future that is critical to long-term growth and development. Safe harbor statement This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation 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 can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and the company does not undertake any duty to update such information, except as required under applicable law. For investor and media inquiries, please contact: XCharge IR Department Email: ir@xcharge.com Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Jenny Cai Tel: +86 (10) 6508-0677 Email: XCharge@tpg-ir.com A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c0453007-1464-4c77-92de-521e93ff6f9c

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