BOSTON, Mass. – XL has announced its acquisition of Quantum Fuel’s electrification division, and the hiring of a new CEO.
As part of the transaction, XL adds Quantum Fuel System’s electric vehicle division engineering staff and technology assets. The company says the acquisition will accelerate its product development plans for heavy-duty and fully-electric propulsion applications.
The company also hired Dimitri Kazarinoff as its new CEO. He led Eaton Corporation’s electric vehicle growth. Original CEO Tod Hynes will stay on as chief strategy officer.
“I’m excited to be able to execute our long-standing plan of bringing on a new chief executive at this juncture of XL’s history,” said Hynes. “This is the right time to build upon our 10 years of success, and Dimitri is the right leader to accelerate our growth moving forward.”
“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,” said Kazarinoff.