Phoenix Motor Inc. designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles. The company offers buses and trucks. It focuses on developing light and medium duty commercial electric vehicles for various service and government fleet markets, including city fleets, campuses, municipalities, and transit agencies; and serves a spectrum of commercial fleet customers, such as airport shuttle operators, hotel chains, transit fleet operators, seaports, last-mile delivery fleets, and large corporations. The company also markets and sells electric vehicle chargers for the commercial and residential markets; and operates a sales and leasing dealership in the United States. In addition, it sells various L2 and DC fast-charging solutions to its fleet customers at the point of sale for fleet vehicles. The company was founded in 2003 and is headquartered in Anaheim, California. Phoenix Motor Inc. operates as a subsidiary of Edisonfuture Inc.
IPO Year: 2022
Exchange: NASDAQ
Website: https://www.phoenixmotorcars.com
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ANAHEIM, CA / ACCESSWIRE / November 21, 2024 / Phoenix Motor Inc. (NASDAQ:PEV) (the "Company") today announced that it received a delinquency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 (the "Form 10-Q"). The Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC").Under Nasdaq rules, the Company has 60 calendar days, or
ANAHEIM, CA / ACCESSWIRE / October 31, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reported financial and operational results for the second quarter ended June 30, 2024.Second Quarter 2024 Financial HighlightsRevenue increased 937% to $12.03 million, up from $1.16 million in Q2 2023Gross profit increased to $1.83 million, up from a gross loss of ($0.06) million in Q2 2023Net loss improved to $2.26 million compared to a net loss of $3.18 million in Q2 2023Cash and cash equivalents were $1.40 million as of June 30, 2024, up from $0.03 million on December 31, 2023Total equity in
ANAHEIM, CA / ACCESSWIRE / October 29, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, is pleased to invite investors to a webinar on November 18, 2024, at 4:15 p.m. ET.The exclusive event, hosted by RedChip Companies, will feature Phoenix Motor's CEO, Denton Peng, CFO Michael Yung, and CCO Jose Paul.Attendees will gain insight into Phoenix Motor's position as a leader in zero-emission, all-electric commercial transportation solutions. Phoenix Motor's vehicles have accumulated more than 55 million all-electric miles-saving over $30 million in fuel costs. These efforts have directly res
GREENVILLE, SC / ACCESSWIRE / October 16, 2024 / Phoenix Motor Inc.'s (NASDAQ:PEV) PhoenixEV, a leader in electric vehicle (EV) development for the commercial sector, today announced its work on four all-electric transit buses for the University of California San Diego, to be delivered in early 2025.The 35-foot electric buses from PhoenixEV will be deployed to decarbonize the last mile transportation, reducing particulate emissions on campus and in the neighborhoods around the university. The new buses, which will bring the university fleet to 20 percent electric, will also support campus sustainability goals. UC San Diego has committed to decarbonization by 2045."UC San Diego is a leader in
ANAHEIM, CA / ACCESSWIRE / October 11, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced a new partnership with Bay Area Founders Club to advance the establishment of its previously announced Artificial Intelligence (AI) development center in Silicon Valley, California. This agreement marks a significant step forward in Phoenix Motor's strategic efforts to lead the development of next-generation electric and autonomous bus technology.The partnership with Bay Area Founders Club (BFC), founded in Silicon Valley and managed by a dedicated group of Stanford alumni and student
ANAHEIM, CA / ACCESSWIRE / October 3, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reported financial and operational results for the first quarter ended March 31, 2024.First Quarter 2024 Financial HighlightsNet revenues increased to a record $9.4 million, up from $1.8 million in the prior year period.Gross profit increased to a record $2.5 million, up from $0.2 million in the prior year period.Net income increased to a record $14.8 million, or $0.49 per share, up from a net loss of $2.8 million, or ($0.13) per share, in the prior year period; diluted EPS increased to $0.44 pe
GREENVILLE, SC / ACCESSWIRE / September 25, 2024 / Phoenix Motor Inc.'s (NASDAQ:PEV) PhoenixEV, a leader in electric vehicle (EV) development for the commercial sector, today announced its membership in the American Public Transportation Association (APTA), a move that underscores the company's dedication to advancing sustainable transportation solutions.APTA is the nation's largest public transportation association, representing all modes of public transportation in North America. By joining APTA, PhoenixEV gains access to a network of industry leaders, advocacy resources, and opportunities to collaborate on the future of public transportation."We are excited to join APTA, one of the larges
ANAHEIM, CA / ACCESSWIRE / September 23, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report record gross profit and record net income for the first quarte
The Company reiterates its record revenue guidance for Q1 2024ANAHEIM, CA / ACCESSWIRE / September 9, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report r
ANAHEIM, CA / ACCESSWIRE / August 21, 2024 / Phoenix Motor Inc. (NASDAQ:PEV) (the "Company") today announced that it received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC ("Nasdaq") on August 16, 2024 due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024. Previously, on May 22, 2024, the Company received a delinquency notification from Nasdaq that the Company no longer complied with the Listing Rule as it had not yet filed its Form 10-Q for the quarterly period ended
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GREENVILLE, SC / ACCESSWIRE / September 25, 2024 / Phoenix Motor Inc.'s (NASDAQ:PEV) PhoenixEV, a leader in electric vehicle (EV) development for the commercial sector, today announced its membership in the American Public Transportation Association (APTA), a move that underscores the company's dedication to advancing sustainable transportation solutions.APTA is the nation's largest public transportation association, representing all modes of public transportation in North America. By joining APTA, PhoenixEV gains access to a network of industry leaders, advocacy resources, and opportunities to collaborate on the future of public transportation."We are excited to join APTA, one of the larges
ANAHEIM, CA / ACCESSWIRE / April 18, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the appointment of Michael Yung as its new Chief Financial Officer (CFO), effective April 17, 2024.Yung brings over 25 years of financial leadership and strategic business acumen to Phoenix Motor. Before joining Phoenix Motor, Yung served as the CFO at PingTan Marine Enterprise Ltd., where he managed SEC filings, investor relations, and was instrumental in conducting financial audits and due diligence for mergers and acquisitions. His seasoned expertise was also demonstrated during his
Dr. Liu brings a unique blend of skills and experiences in AI, automotive engineering, strategic business development, and operation management.ANAHEIM, CA / ACCESSWIRE / April 12, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the appointment of Dr. Lewis Liu as its new Chief Operating Officer (COO), effective immediately. Prior to his new role, Dr. Liu demonstrated exemplary leadership and innovation as the Senior Vice President (SVP) of Operations and SVP of Vehicle Program & Business Development at Phoenix Motor.Dr. Liu brings to the COO position a wealth of experi
ANAHEIM, CA / ACCESSWIRE / March 13, 2024 / Phoenix Motor Inc. (NASDAQ:PEV) (the "Company" or "Phoenix"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, announced today that its Board of Directors has appointed J. Mark Hastings as the Company's Chief Financial Officer.In commenting on the appointment, Denton Peng, CEO of Phoenix said, "We are delighted to name Mark as our Chief Financial Officer. He has been instrumental in our success as a public company and was critical in helping lead the acquisition of Proterra's Transit bus business in Greenville, South Carolina."Mark Hastings, the newly appointed CFO commented, "I am
ANAHEIM, CA / ACCESSWIRE / November 13, 2023 / Phoenix Motor Inc. (NASDAQ:PEV) ("Company" or "Phoenix"), a leading electrification solutions provider for medium-duty vehicles, today announced that its EdisonFuture subsidiary has launched a new Alkaline Electrolyzer solution, in addition to its existing Proton Exchange Membrane (PEM), for the production of green hydrogen products. The product launch supports the Company's ongoing commitment to advancing renewable energy and the transition to a carbon-neutral society. Meanwhile, Fengping Wu was appointed Vice President of Business Development and will lead the EdisonFuture Hydrogen business development team committed to delivering renewable en
Addition of PEM electrolyzer and fuel cell product lines advances the shift towards sustainable energy, facilitating transition to carbon-neutral societyAnaheim, California (October 9, 2023) - Phoenix Motor Inc. (NASDAQ:PEV) ("Company" or "Phoenix"), a leading electrification solutions provider for medium-duty vehicles, today announced that its EdisonFuture subsidiary has launched new Proton Exchange Membrane (PEM) solutions for green hydrogen products and production. The product launch supports the Company's ongoing commitment to advancing renewable energy and the transition to a carbon-neutral society. Meanwhile, Dr. Bo Yang was appointed Head of Research & Development for the hydrogen bus
ANAHEIM, CA / ACCESSWIRE / October 3, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reported financial and operational results for the first quarter ended March 31, 2024.First Quarter 2024 Financial HighlightsNet revenues increased to a record $9.4 million, up from $1.8 million in the prior year period.Gross profit increased to a record $2.5 million, up from $0.2 million in the prior year period.Net income increased to a record $14.8 million, or $0.49 per share, up from a net loss of $2.8 million, or ($0.13) per share, in the prior year period; diluted EPS increased to $0.44 pe
ANAHEIM, CA / ACCESSWIRE / September 23, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report record gross profit and record net income for the first quarte
The Company reiterates its record revenue guidance for Q1 2024ANAHEIM, CA / ACCESSWIRE / September 9, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report r
The Company reiterates its record revenue guidance for Q1 2024 ANAHEIM, CA / ACCESSWIRE / August 14, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report re
The Company has rescheduled its Q1 earnings call to August 15 ANAHEIM, CA / ACCESSWIRE / July 11, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced updated guidance for the first quarter of 2024. The Company now expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to repor
ANAHEIM, CA / ACCESSWIRE / June 20, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has rescheduled its first quarter 2024 earnings call to Thursday, July 11, 2024, at 4:30 p.m. ET.Event: Phoenix Motor First Quarter 2024 Financial Results Conference CallDate: Thursday, July 11, 2024Time: 4:30 p.m. Eastern TimeLive Call: +1-877-407-9039 (U.S. Toll-Free) or +1-201-689-8470 (International)Webcast (audio only): https://viavid.webcasts.com/starthere.jsp?ei=1672558&tp_key=9373f16cb7Conf. ID: 13746794For interested individuals unable to join the conference call, a dial
ANAHEIM, CA / ACCESSWIRE / June 6, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has rescheduled its first quarter 2024 earnings call to Thursday, June 20, 2024, at 4:30 p.m. ET.Event:Phoenix Motor First Quarter 2024 Financial Results Conference CallDate:Thursday, June 20, 2024Time:4:30 p.m. Eastern TimeLive Call:+1-877-407-9039 (U.S. Toll-Free) or +1-201-689-8470 (International)Webcast (audio only)https://viavid.webcasts.com/starthere.jsp?ei=1672558&tp_key=9373f16cb7Conf. ID:13746794For interested individuals unable to join the conference call, a dial-in repl
ANAHEIM, CA / ACCESSWIRE / May 30, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has rescheduled its first quarter 2024 earnings call to Thursday, June 6, 2024, at 4:30 p.m. ET.Event:Phoenix Motor First Quarter 2024 Financial Results Conference CallDate:Thursday, June 6, 2024Time:4:30 p.m. Eastern TimeLive Call:+1-877-407-9039 (U.S. Toll-Free) or +1-201-689-8470 (International)Webcast (audio only)https://viavid.webcasts.com/starthere.jsp?ei=1672558&tp_key=9373f16cb7Conf. ID:13746794For interested individuals unable to join the conference call, a dial-in replay
ANAHEIM, CA / ACCESSWIRE / May 17, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced it will host a conference call on Thursday, May 23, 2024 at 4:30 p.m. ET to discuss and answer questions about the Company's operational and financial highlights for the first quarter ended March 31, 2024.Event:Phoenix Motor First Quarter 2024 Financial Results Conference CallDate:Thursday, May 23, 2024Time:4:30 p.m. Eastern TimeLive Call:+1-877-407-9039 (U.S. Toll-Free) or +1-201-689-8470 (International)Conf. ID:13746794For interested individuals unable to join the conference call, a dia
ANAHEIM, CA / ACCESSWIRE / February 14, 2024 / Phoenix Motor Inc. (NASDAQ:PEV) (the "Company" or "Phoenix"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, announced today its recent delivery of an all-electric, zero-emission Z400 shuttle bus to the City of Grand Terrace. The electric service truck is built on a Ford E-450 chassis powered by Phoenix Motorcars and will serve the city and their community. This electric vehicle was funded in part by the San Joaquin Valley Air Pollution Control District's VW Program aimed at helping mitigate pollution by scrapping older gas and diesel shuttle buses throughout California.Simulta
The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report record gross profit and record net income for the first quarter of 2024.
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On May 17, 2024, the Board of Directors (the “Board”) of Phoenix Motor Inc. (the “Company”) established a special committee to investigate various allegations against Mr. Xiaofeng Denton Peng, the current Chief Executive Officer of the Company (“CEO”), including but not limited to a breach of his fiduciary duty as the CEO of the Company, Chairman and Director of the Board, and as a majority shareholder of the Company by causing the Company to enter into related party transactions, including that certain guarantee, dated March 6, 2024, in favor of Streeterville Capital, LLC. Pursuant to the guaranty, the Company is obligated to guarantee repayment of a debt of $14.98 million incurred by SPI E
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