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.

Unrivaled Excellence in Zero-Emission Solutions

PhoenixEV's cutting-edge electric buses reign supreme in sustainable public transportation, with over 1,200 units already deployed and serving communities throughout the U.S. This union of capabilities in medium and heavy-duty shuttles, trucks, school buses, and transit buses, coupled with a seasoned team operating out of California and South Carolina, fortifies PhoenixEV's unmatched product range and proven electric commercial vehicles. With over 55 million miles driven on its zero emission solutions, PhoenixEV is now capable of offering combined solutions for various classes and applications in the commercial fleet, school and transit markets.

The new PhoenixEV brand epitomizes the synergies harnessed from decades of pioneering electric vehicle development, united by a shared commitment to delivering top-quality products across various transportation and mobility sectors. With collective expertise spanning engineering, development, production, and service, PhoenixEV is poised to maintain its leadership in commercial vehicle electrification and is committed to supporting the legacy of its existing transit customers with renewed vigor and ongoing service and part support.

One Brand, One Goal, One Team.

A Promising Future for Sustainable Transportation

PhoenixEV marks a significant stride forward in the electrification of transportation, now equipped to provide a comprehensive suite of zero-emission solutions tailored to meet the diverse needs of fleets and municipalities across North America.

"We are thrilled to unveil our new brand identity of PhoenixEV. This marks an exciting chapter for our company, as our updated logo and branding reflect our commitment to pushing the boundaries of zero-emission technology and spearheading sustainable transportation," says Denton Peng, CEO of PhoenixEV.

In conjunction with the new PhoenixEV brand identity, the Company has launched a new website: www.phoenixev.ai.

About Phoenix Motor Inc.

Phoenix Motor, a pioneer in the electric vehicle ("EV") industry, specializes in designing, building, and integrating electric drive systems, along with manufacturing heavy-duty transit buses and medium- to light-duty commercial EVs. The company operates under two primary brands: "PhoenixEV," focusing on commercial products such as heavy and medium-duty EVs (including transit buses, shuttle buses, school buses, and delivery trucks), and "EdisonFuture," aimed at offering light-duty EVs. Phoenix is committed to being a leading designer, developer, and manufacturer of electric vehicles and EV technologies. To learn more, please visit www.phoenixev.ai.

Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These risk factors include, among others, those related to our ability to raise additional capital necessary to grow our business, operations and business and financial performance, our ability to grow demand for our products and revenue, our ability to become profitable, our ability to have access to an adequate supply of parts and materials and other critical components for our vehicles on the timeline we expect, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

Contact:

Tyler Leach
Marketing Manager
PhoenixEV
909-987-0815
tleach@phoenixmotorcars.com

SOURCE: Phoenix Motorcars Inc.