Phoenix Motor Inc

Phoenix Motor, Inc. engages in designing and manufacturing electric vehicles. It also engages in assembling and integrating electric drive systems and medium duty electric vehicles and sells & markets electric vehicle chargers for the commercial and residential markets. The company was founded in 2003 and is headquartered in Anaheim, CA.

Earnings data Q2 2022

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Phoenix Motor Inc achieves record Q1 results, focuses on electric vehicles

Phoenix Motor Inc's Q1 2024 performance reflects strong financial growth and market expansion.
The company's strategic focus on electric vehicles and aftersales support enhances its competitive position.
Challenges include managing backlog, operational efficiency, and adapting to market dynamics.
Opportunities lie in revenue growth, market expansion, and increasing demand for eco-friendly vehicles.

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Phoenix Motor, Inc. designs, develops, manufactures, assembles, and integrates electric drive systems and light and medium duty electric vehicles, with an aim to reduce carbon intensity and greenhouse gas emissions. It operates under the brands Phoenix Motorcars, which is focused on commercial products including medium duty electric vehicles, chargers, and electric forklifts, and EdisonFuture, which intends to offer light-duty electric vehicles. The company was founded in 2003 and is headquartered in Anaheim, CA.

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 Highlights Revenue increased 937% to $12.03 million, up from $1.16 million in Q2 2023 Gross profit increased to $1.83 million, up from a gross loss of ($0.06) million in Q2 2023 Net loss improved to $2.26 million compared to a net loss of $3.18 million in Q2 2023 Cash and cash equivalents were $1.40 million as of June 30, 2024, up from $0.03 million on December 31, 2023 Total equity increased to $21.86 million as of June 30, 2024, up from negative equity of $4.84 million on December 31, 2023 Second Quarter and Recent Company Highlights Delivered five 40' ZX5 battery electric buses in May 2024 for the University of California, Irvine (UCI) Signed contract to supply four all-electric transit buses for the University of California San Diego, to be delivered in early 2025.

Phoenix Motor Reports Record $12M Revenue for Second Quarter of 2024

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.

Join Phoenix Motor's Exclusive Live Investor Webinar and Q&A Session on November 18

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.

PhoenixEV To Electrify Campus Buses at University of California San Diego

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.

Phoenix Motor Partners with Bay Area Founders Club to Advance AI Development in Silicon Valley

Phoenix Motor Inc. (NASDAQ:PEV ) Q1 2024 Earnings Conference Call October 3, 2024 4:30 PM ET Company Participants Denton Peng - Chief Executive Officer Jose Paul - Chief Commercial Officer Lewis Liu - Chief Operating Officer Michael Yung - Chief Financial Officer Operator Good afternoon, and welcome to the Phoenix Motor's First Quarter 2024 Conference Call. As a reminder, this call is being recorded and all participants are in a listen-only mode.

Phoenix Motor Inc. (PEV) Q1 2024 Earnings Call Transcript

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 Highlights Net revenues increased to a record $9.4 million, up from $1.8 million in the prior year period.

Phoenix Motor Reports Record $9.4 Million Revenue and $14.8 Million Net Income for First Quarter of 2024

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.

PhoenixEV Announces Partnership with APTA, Highlighting Commitment to Sustainable Public Transportation

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.

Phoenix Motor Reschedules Q1 Earnings Call to October 3

The Company reiterates its record revenue guidance for Q1 2024 ANAHEIM, 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.

Phoenix Motor Reschedules Q1 Earnings Call to September 23

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 March 31, 2024 (the "Initial Delinquent Filing").

Phoenix Motor Inc. Announces Receipt of Nasdaq Listing Delinquency Letter

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.

Phoenix Motor Reschedules Q1 Earnings Call to September 9

GREENVILLE, SC / ACCESSWIRE / July 15, 2024 / Phoenix Motor Inc.'s (Nasdaq:PEV) PhoenixEV, a leading manufacturer of innovative electric buses, delivered five 40' ZX5 battery electric buses in May 2024 for the University of California, Irvine (UCI). This win marks a major step for PhoenixEV in providing universities with reliable and sustainable transportation solutions.

PhoenixEV Powers Up University of California, Irvine with New Electric Bus Fleet

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.

Phoenix Motor Expects to Exceed its Previously Issued Record Revenue Guidance for Q1 2024

ANAHEIM, CA / ACCESSWIRE / June 26, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a trailblazer in the realm of zero-emission vehicles, proudly announces the integration of the recently acquired Proterra transit bus division into its existing medium-duty business, heralding the birth of a new powerhouse brand: PhoenixEV. This strategic amalgamation combines the expertise and innovation of two dominant industry players, cementing PhoenixEV's position as an impactful market force in sustainable transportation solutions across North America.

PhoenixEV Emerges as Premier Leader in Zero-Emission Vehicles Following Proterra Transit Bus Business Acquisition

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 Call Date: Thursday, July 11, 2024 Time: 4:30 p.m.

Phoenix Motor Reschedules First Quarter 2024 Earnings Call to July 11

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 Call Date: Thursday, June 20, 2024 Time: 4:30 p.m.

Phoenix Motor Reschedules First Quarter 2024 Earnings Call to June 20

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 Call Date: Thursday, June 6, 2024 Time: 4:30 p.m.

Phoenix Motor Reschedules First Quarter 2024 Earnings Call to June 6

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.

Phoenix Motor to Host Conference Call to Discuss First Quarter 2024 Results on May 23 at 4:30 p.m. ET

ANAHEIM, CA / ACCESSWIRE / May 13, 2024 / Phoenix Motor Inc. (Nasdaq:PEV), a leading manufacturer of heavy-duty transit buses, and electrification solutions provider for medium-duty vehicles, announced the production launch of its first fourth-generation drivetrain for Class-4 shuttle buses & trucks. The first two units will be delivered to customers in New Jersey.

Phoenix Motor Starts Production of Fourth Generation Medium-Duty EVs

ANAHEIM, CA / ACCESSWIRE / May 6, 2024 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, will unveil its new branding at the Advanced Clean Transportation (ACT) Expo at the Las Vegas Convention Center, to be held from May 20-23 at booth #1170. In addition to the new branding, Phoenix will showcase the wide range of commercial EV solutions, including the 35' and 40' transit bus, medium-duty shuttle buses, work trucks, delivery trucks, and Type A School Bus, serving a diverse range of customers, including transit agencies, airport parking companies, cities, school districts, universities and corporate fleets.

Phoenix Motor to Unveil New Branding at ACT Expo 2024

ANAHEIM, CA / ACCESSWIRE / April 25, 2024 / Phoenix Motor Inc. (NASDAQ:PEV) (the "Company"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced it signed a waiver agreement with JAK Opportunities II LLC, one of the Company's principal investors, eliminating a potential $12 million convertible promissory note issuance related to a Securities Purchase Agreement (SPA) signed in November 2023. "Recent capital raising activities have provided us with a solid foundation to accelerate our growth initiatives while eliminating the need to incur further dilution related to the SPA," said Denton Peng, CEO of Phoenix Motor.

Phoenix Motor Strengthens Capital Structure by Negotiating Key Waiver with Note Holder

ANAHEIM, CA / ACCESSWIRE / April 23, 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 strategic partnership with Cennatic Power ("Cennatic"), a wholly owned subsidiary of Cenntro Inc. (CENN), to supply advanced battery packs custom-manufactured for Phoenix Motor's range of commercial electric vehicles (EVs). Under the terms of the agreement, Cennatic will develop and produce battery packs specifically designed for Phoenix Motor's heavy-duty transit buses, as well as its medium- and light-duty commercial EVs.

Phoenix Motor Partners with Cennatic for Commercial EV Battery Solutions

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 its revenue guidance for the second quarter of 2024. The company expects to report revenue in the range of $14 million to $16 million, representing a significant increase from the $1.8 million recorded in the first quarter of 2023 and up from the expected $8 million to $9 million forecasted for Q1 2024, the company's previous record revenue quarter.

Phoenix Motor Expects to Report $14 Million to $16 Million Revenue in Q2 2024

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 it has surpassed 55 million miles driven across its range of products. Phoenix offers a range of electric vehicles including the 35' and 40' transit bus, medium-duty shuttle buses, work trucks, delivery trucks, and Type A School Bus, serving a diverse range of customers, including transit agencies, airport parking companies, cities, school districts, universities and corporate fleets.

Phoenix Motor Surpasses 55 million Zero Emission Miles Driven

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.

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