Phoenix Motorcars to Showcase Electric Shuttle Bus, Truck and EV Charging Solutions at ACT Expo

Rhea-AI Summary

Phoenix Motorcars, a subsidiary of SPI Energy (NASDAQ: SPI), announced its participation in the Advanced Clean Transportation Expo from August 31 to September 1, 2021. The company will showcase its latest all-electric medium-duty vehicles and EV charging solutions at booth 1059. With over a decade of experience, Phoenix has driven more than 2.75 million electric miles. The U.S. EV infrastructure market is projected to grow at a CAGR of 38.9% through 2028. Phoenix Motorcars aims to support electrification efforts in transportation, leveraging initiatives from the U.S. government.

Positive

• Participating in the ACT Expo, enhancing brand visibility.
• Showcasing the latest all-electric vehicles and EV charging solutions.
• Strong market growth potential in the U.S. EV infrastructure sector, fueled by government initiatives.
• Over 2.75 million electric miles driven by Phoenix Motorcars demonstrates operational success and product reliability.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / August 11, 2021 / California based Phoenix Motorcars, a subsidiary of SPI Energy Ltd. (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, announced its participation at the Advanced Clean Transportation Expo (ACT Expo) from August 31^st to September 1^st at the Long Beach Convention Center. Long Beach City is a leader on the clean energy front in the state and across the nation.

Visitors to the show can interact at the display with the latest range of all-electric medium-duty vehicles and EV charging solutions offered by Phoenix Motorcars at booth no. 1059. Visitors are also encouraged to experience the technology via ride-and-drive in its all-electric shuttle bus. Now on its third-generation drivetrain technology, Phoenix delivered its first all-electric shuttle bus in 2014 and since then served customers across several industries including airport parking companies, transit agencies, cities, municipalities, ports, large corporate campuses, universities and more.

"As one of the premiere events of the industry, we look forward to meeting with customers, investors and other stakeholders at the show and introducing them to our expanded product line from both the vehicle and charger segments of our business. This is our first event after the launch of our EV charging solutions division", said Joseph Mitchell, CEO of Phoenix Motorcars.

Grand View Research forecasts the U.S electric vehicle infrastructure market, which was valued at $2 billion in 2020, to grow at a compound annual growth rate (CAGR) of 38.9% from 2021 to 2028, with local, state and federal initiatives serving as driving factors.

Ira Feintuch, SVP and Global Head of EV Charging Solutions for Phoenix Motorcars commented, "As the U.S. infrastructure bill works through Congress, Phoenix Motorcars fully supports the role the U.S. government is playing in the electrification of our transportation industry. We are excited to play a pivotal role in deploying the necessary infrastructure to support the vehicle goals that have been set."

As the medium-duty electric vehicle industry grows rapidly (a compound annual growth rate of 51.6% through 2030, according to PS Market Research), Phoenix Motorcars is well positioned to support the effort with over a decade of experience and expertise in electrifying fleets with a variety of products. Phoenix Motorcars recently surpassed 2.75 million electric miles driven by fully electric trucks and shuttle buses in operation.

Along with its record of innovation and reliability, Phoenix Motorcars offers the widest range of options for trucks, customizable configurations, battery pack options, and provides industry-leading range and warranties, complementing SPI Energy's broader operations in EVs, solar generation, storage, and battery products.

About Phoenix Motorcars
Phoenix Motorcars is a leader in developing medium-duty electric vehicles for commercial markets with a primary focus on class 3 & 4 vehicles, and EV charging solutions. Phoenix Motorcars strives to provide fleets with clean transportation and renewable energy through advanced technology solutions and remains committed to excellence in electric vehicle innovation. Phoenix Motorcars offers a range of vehicle configurations, including shuttle buses, utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks and school buses, and full range of residential and commercial EV charging solutions. For more information, please visit www.phoenixmotorcars.com.

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.

For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.

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 factors include, among others, 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 20-F 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 Department
ir@spigroups.com

Dave Gentry
RedChip Companies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

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FAQ

What is Phoenix Motorcars showcasing at the ACT Expo 2021?

Phoenix Motorcars is showcasing its all-electric medium-duty vehicles and EV charging solutions at ACT Expo.

When and where is the ACT Expo taking place?

The ACT Expo is taking place from August 31 to September 1, 2021, at the Long Beach Convention Center.

What is the projected growth of the U.S. EV infrastructure market?

The U.S. EV infrastructure market is projected to grow at a CAGR of 38.9% from 2021 to 2028.

How far has Phoenix Motorcars' electric vehicles driven?

Phoenix Motorcars has surpassed 2.75 million electric miles driven by its fully electric trucks and shuttle buses.

What role does the U.S. government play in the EV industry?

The U.S. government is supporting the electrification of the transportation industry through various infrastructure initiatives.