Phoenix Motor Announces Formation of EdisonFuture International Co., Ltd. to Expand Global Electric Vehicle Business
Phoenix Motor Inc. (NASDAQ:PEV) announced the formation of EdisonFuture International Co., , a wholly-owned subsidiary based in Hong Kong, to expand its global electric vehicle business. The new entity will focus on international opportunities in the Caribbean, South America, Europe, and Asia, leveraging Phoenix Motor's EV technologies and brand strengths.
While Phoenix Motor's existing brands 'PhoenixEV' and 'EdisonFuture' serve U.S. customers with medium/heavy-duty commercial EVs and light-duty EVs, the new subsidiary will utilize international supply chain resources, financial networks, and market development strategies for global expansion. The Hong Kong-based operation will initially focus on leveraging Asian supply chain networks and working with regional partners to introduce Phoenix Motor's EV technologies to commercial fleets, logistics providers, and municipalities.
Phoenix Motor Inc. (NASDAQ:PEV) ha annunciato la creazione di EdisonFuture International Co., una filiale interamente controllata con sede a Hong Kong, per espandere la propria attività globale nel settore dei veicoli elettrici. La nuova entità si concentrerà sulle opportunità internazionali nei Caraibi, in Sud America, in Europa e in Asia, sfruttando le tecnologie e i punti di forza del marchio di Phoenix Motor.
Mentre i marchi esistenti di Phoenix Motor, 'PhoenixEV' ed 'EdisonFuture', servono i clienti statunitensi con veicoli elettrici commerciali di media/pesante capacità e veicoli elettrici leggeri, la nuova filiale utilizzerà risorse della catena di approvvigionamento internazionale, reti finanziarie e strategie di sviluppo del mercato per l'espansione globale. L'operazione con sede a Hong Kong si concentrerà inizialmente sull'utilizzo delle reti di approvvigionamento asiatiche e sulla collaborazione con partner regionali per introdurre le tecnologie EV di Phoenix Motor in flotte commerciali, fornitori di logistica e municipi.
Phoenix Motor Inc. (NASDAQ:PEV) anunció la formación de EdisonFuture International Co., una subsidiaria de propiedad total con sede en Hong Kong, para expandir su negocio global de vehículos eléctricos. La nueva entidad se centrará en oportunidades internacionales en el Caribe, América del Sur, Europa y Asia, aprovechando las tecnologías y fortalezas de marca de Phoenix Motor.
Mientras que las marcas existentes de Phoenix Motor, 'PhoenixEV' y 'EdisonFuture', atienden a clientes en EE. UU. con vehículos eléctricos comerciales de mediana/pesada capacidad y vehículos eléctricos ligeros, la nueva subsidiaria utilizará recursos de la cadena de suministro internacional, redes financieras y estrategias de desarrollo de mercado para la expansión global. La operación con sede en Hong Kong se centrará inicialmente en aprovechar las redes de suministro asiáticas y trabajar con socios regionales para introducir las tecnologías EV de Phoenix Motor en flotas comerciales, proveedores de logística y municipios.
피닉스 모터 주식회사 (NASDAQ:PEV)는 홍콩에 본사를 둔 완전 자회사 에디슨퓨처 인터내셔널 주식회사를 설립하여 글로벌 전기차 사업을 확장한다고 발표했습니다. 새로운 법인은 카리브해, 남미, 유럽 및 아시아의 국제 기회에 집중하며, 피닉스 모터의 전기차 기술 및 브랜드 강점을 활용할 것입니다.
피닉스 모터의 기존 브랜드인 '피닉스EV'와 '에디슨퓨처'는 미국 고객에게 중형/대형 상업용 전기차와 경량 전기차를 제공하고 있으며, 새로운 자회사는 글로벌 확장을 위해 국제 공급망 자원, 금융 네트워크 및 시장 개발 전략을 활용할 것입니다. 홍콩에 본사를 둔 이 운영은 초기에는 아시아 공급망 네트워크를 활용하고 지역 파트너와 협력하여 피닉스 모터의 전기차 기술을 상업용 차량, 물류 제공업체 및 지방 자치 단체에 도입하는 데 초점을 맞출 것입니다.
Phoenix Motor Inc. (NASDAQ:PEV) a annoncé la création de EdisonFuture International Co., une filiale entièrement détenue basée à Hong Kong, pour étendre son activité mondiale de véhicules électriques. La nouvelle entité se concentrera sur les opportunités internationales dans les Caraïbes, en Amérique du Sud, en Europe et en Asie, en s'appuyant sur les technologies EV et les forces de marque de Phoenix Motor.
Alors que les marques existantes de Phoenix Motor, 'PhoenixEV' et 'EdisonFuture', servent les clients américains avec des véhicules électriques commerciaux de moyenne/grande capacité et des véhicules électriques légers, la nouvelle filiale utilisera des ressources de la chaîne d'approvisionnement internationale, des réseaux financiers et des stratégies de développement de marché pour l'expansion mondiale. L'opération basée à Hong Kong se concentrera initialement sur l'exploitation des réseaux d'approvisionnement asiatiques et sur la collaboration avec des partenaires régionaux pour introduire les technologies EV de Phoenix Motor dans les flottes commerciales, les fournisseurs logistiques et les municipalités.
Phoenix Motor Inc. (NASDAQ:PEV) gab die Gründung von EdisonFuture International Co., einer hundertprozentigen Tochtergesellschaft mit Sitz in Hongkong, bekannt, um ihr globales Geschäft mit Elektrofahrzeugen auszubauen. Die neue Einheit wird sich auf internationale Chancen in der Karibik, Südamerika, Europa und Asien konzentrieren und dabei die EV-Technologien und Markenstärken von Phoenix Motor nutzen.
Während die bestehenden Marken von Phoenix Motor, 'PhoenixEV' und 'EdisonFuture', US-Kunden mit mittel- und schwerlastigen kommerziellen Elektrofahrzeugen sowie leichten Elektrofahrzeugen bedienen, wird die neue Tochtergesellschaft internationale Ressourcen der Lieferkette, Finanznetzwerke und Marktentwicklungsstrategien für die globale Expansion nutzen. Die in Hongkong ansässige Operation wird sich zunächst darauf konzentrieren, asiatische Lieferkettenetzwerke zu nutzen und mit regionalen Partnern zusammenzuarbeiten, um die EV-Technologien von Phoenix Motor in kommerziellen Flotten, Logistikanbietern und Kommunen einzuführen.
- Strategic expansion into global markets through new Hong Kong subsidiary
- Access to international supply chain resources and financial networks
- Potential for market growth in Caribbean, South America, Europe, and Asia regions
- Significant investment and resources required for international expansion
- Exposure to international market risks and regulatory challenges
Insights
The establishment of EdisonFuture International marks a calculated strategic pivot for Phoenix Motor, though its execution carries both significant opportunities and challenges. Hong Kong's selection as the headquarters demonstrates shrewd positioning, offering strategic advantages including:
- Access to robust Asian manufacturing networks and supply chains, potentially reducing production costs
- Proximity to major EV battery manufacturers and component suppliers
- Established financial infrastructure and access to international capital markets
- Strategic location for serving both Asian and global markets
However, this expansion comes at a critical time when the global EV market is becoming increasingly competitive and fragmented. The company's focus on commercial and heavy-duty vehicles could provide a distinctive advantage, as this segment typically faces less competition than the passenger EV market. The strategy to target multiple regions simultaneously - Caribbean, South America, Europe, and Asia - while ambitious, may strain resources and require substantial capital investment.
The success of this international expansion will largely depend on three critical factors:
- Supply Chain Integration: The ability to effectively leverage Asian supply networks while maintaining quality standards
- Market Adaptation: Successfully modifying products to meet diverse regional requirements and regulations
- Capital Efficiency: Managing the significant investment required for international expansion while maintaining operational stability
For a company with a market capitalization of
ANAHEIM, CA / ACCESS Newswire / February 18, 2025 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the formation of EdisonFuture International Co., Ltd., a wholly-owned subsidiary based in Hong Kong. This new entity will focus on international opportunities, leveraging Phoenix Motor's advanced EV technologies and brand strengths to expand into global markets.
EdisonFuture International will serve as the company's international arm, aiming to establish a strong presence in key regions including the Caribbean, South America, Europe, and Asia. While Phoenix Motor's existing brands, "PhoenixEV" and "EdisonFuture," primarily serve U.S. customers with medium and heavy-duty commercial EVs and light-duty EVs, respectively, the new subsidiary will drive global expansion by utilizing international supply chain resources, financial networks, and market development strategies.
"The formation of EdisonFuture International marks a significant milestone for Phoenix Motor as we extend our footprint beyond the U.S. and tap into the rapidly growing global EV market," said Denton Peng, CEO of Phoenix Motor. "By establishing operations in Hong Kong, a key gateway to international business, we will optimize supply chain efficiencies, strengthen financial partnerships, and accelerate market penetration in high-growth regions."
EdisonFuture International will initially focus on leveraging Asian supply chain networks to support its expansion into international markets. The company plans to work closely with regional partners to introduce Phoenix Motor's proven EV technologies to commercial fleets, logistics providers, and municipalities looking to transition to sustainable transportation solutions.
As part of this initiative, Phoenix Motor will explore strategic alliances and collaborations with international stakeholders to drive innovation, enhance product offerings, and support the global adoption of zero-emission transportation. The company is committed to aligning with local regulatory frameworks and sustainability goals to ensure a seamless market entry and long-term success.
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
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