Join Phoenix Motor's Exclusive Live Investor Webinar and Q&A Session on May 6

Rhea-AI Summary

Phoenix Motor Inc. (NASDAQ:PEV), a manufacturer of heavy-duty transit buses and electrification solutions, announces an exclusive investor webinar scheduled for May 6, 2025, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature CEO Denton Peng.

The company has achieved significant milestones with its vehicles accumulating over 60 million all-electric miles, resulting in more than $30 million in fuel cost savings. Phoenix Motor projects substantial growth with:

• 2024 revenue forecast of $30-31 million, a tenfold increase from $3 million in 2023
• Expected positive net income in 2024, improving from previous year's loss
• 2025 revenue projection of $40-50 million

The webinar will include a live Q&A session, with pre-submission of questions available via PEV@redchip.com.

Positive

• Projected tenfold revenue growth from $3M in 2023 to $30-31M in 2024
• Expected transition to profitability in 2024
• Further revenue growth projected to $40-50M in 2025
• Demonstrated market success with 60M electric miles and $30M in fuel savings

Negative

• Net loss reported in 2023

ANAHEIM, CA / ACCESS Newswire / March 24, 2025 / 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 May 6, 2025, at 4:15 p.m. ET.

The exclusive event, hosted by RedChip Companies, will feature Phoenix Motor's CEO, Denton Peng.

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 60 million all-electric miles-saving over $30 million in fuel costs. For 2024, Phoenix Motor projects revenue of $30 million to $31 million, a tenfold increase from $3 million in 2023, with the company also expecting to report positive net income-a dramatic turnaround from its net loss in the prior year. Looking ahead, 2025 revenue is projected to be in the range of $40 million to $50 million, reflecting continued market expansion and strong demand for Phoenix's zero-emission commercial vehicle solutions.

A live question and answer session will follow the presentation.

To register for the free webinar, please visit: https://redchip.zoom.us/webinar/register/WN_VXDCgL7qSxyYY1EV3UomVQ#/registration

Questions can be pre-submitted to PEV@redchip.com or online during the live event.

About Phoenix Motor Inc.
Phoenix Motor, a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and manufactures heavy duty transit buses and medium and light duty commercial EVs. Phoenix operates two primary brands, "Phoenix", which is focused on commercial products including heavy and medium duty EVs (transit buses, shuttle buses, school buses and delivery trucks, among others) and "EdisonFuture", which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. To learn more, please visit: 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:
IR@phoenixev.ai

Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
PEV@redchip.com

SOURCE: Phoenix Motor Inc.

View the original press release on ACCESS Newswire

FAQ

What are Phoenix Motor's (PEV) revenue projections for 2024 and 2025?

Phoenix Motor projects revenue of $30-31 million for 2024 and $40-50 million for 2025, showing significant growth from $3 million in 2023.

How many electric miles have Phoenix Motor's (PEV) vehicles accumulated?

Phoenix Motor's vehicles have accumulated over 60 million all-electric miles, resulting in more than $30 million in fuel cost savings.

When is Phoenix Motor's (PEV) upcoming investor webinar?

Phoenix Motor's investor webinar is scheduled for May 6, 2025, at 4:15 p.m. ET, hosted by RedChip Companies.

Will Phoenix Motor (PEV) be profitable in 2024?

Yes, Phoenix Motor expects to report positive net income in 2024, marking a turnaround from its net loss in the previous year.