SPI Energy's EdisonFuture Launches Next Generation Electric Pickup Truck

Rhea-AI Summary

SPI Energy has announced the launch of its next-generation electric pickup truck, EF1-T, under its subsidiary EdisonFuture. This model, developed with Icona, features innovative solar mosaic technology that enables continuous battery charging. The standard EF1-T model offers 470 horsepower, while a 'Super' model boasts 816 horsepower. With the US pickup truck market reaching approximately 2.9 million sales in 2020, SPI aims to capitalize on the growing demand for electric vehicles. A new website, EdisonFuture.com, has also been launched to showcase this technology.

Positive

• Introduction of EF1-T electric pickup truck, tapping into the growing electric vehicle market.
• Innovative solar mosaic technology enhances utility and commercial appeal.
• Potential high performance with models offering up to 816 horsepower.

Negative

• None.

Innovative Solar Mosaic Technology
Ideal for Utility and Commercial Customers
New website, EdisonFuture.com, launched to showcase cutting-edge EV design and technology

SANTA CLARA, CA / ACCESSWIRE / July 12, 2021 / SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (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, today announced its wholly owned EdisonFuture, Inc. ("EdisonFuture") and Phoenix Motor Inc. subsidiary launch its next-generation electric pickup truck, EF1-T.

EdisonFuture's EF1-T e-pickup truck, developed in partnership with Icona and leading automaker partners, is the first product in a line of advanced all-electric pickup trucks ad last-mile delivery vans incorporating Edisonfuture & Phoenix Motor's vision for human-centered future transportation and revolutionize how customers and vehicles interact.

The EF1-T standard model comes equipped with total power of 350 kilowatts (kW), or 470 horsepower (HP), while EdisonFuture's top of the line "Super" model offers 600kW, or 816HP.

An ideal solution for utility and commercial customers, the EF1-T e-pickup trucks use a uniquely designed solar mosaic technology that provides a stunning visual signature while also harnessing the power of the sun to recharge the batteries, enabling work vehicles to continuously charge while in the field.

To support the launch of its innovative EF1-T e-pickup truck, EdisonFuture also launched a new website: www.edisonfuture.com.

"Our vision for EdisionFuture and Phoenix Motorcars is to be leaders in sustainable transportation with focus on energy efficiency and innovative design," stated Mr. Xiaofeng Peng, Chairman & Chief Executive Officer of SPI Energy. "We have already filed multiple design and technology patents in the US related to the EF1-T and look forward to introducing this game-changing vehicle to the market in the coming months."

Approximately 2.9 million pickup trucks were sold in the US in 2020, representing nearly 20% of the entire US auto market. According to data from Cox Automotive, nearly 2-in-5 consumers in the market for a pickup truck over the next two years are considering an electric pickup truck.

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.

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.

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.

SPI Energy Co., Ltd. Contact:

IR Department
ir@spigroups.com

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

SOURCE: SPI Energy Co., Ltd.

View source version on accesswire.com:
https://www.accesswire.com/655087/SPI-Energys-EdisonFuture-Launches-Next-Generation-Electric-Pickup-Truck

FAQ

What is the EF1-T electric pickup truck from SPI Energy?

The EF1-T is a next-generation electric pickup truck launched by SPI Energy's subsidiary EdisonFuture, featuring innovative solar technology for continuous charging.

When was the EF1-T electric pickup truck launched?

The EF1-T electric pickup truck was announced on July 12, 2021.

What is the power output of the EF1-T electric pickup truck?

The standard EF1-T model has a power output of 470 horsepower, while the 'Super' model offers 816 horsepower.

How does the solar mosaic technology benefit the EF1-T pickup truck?

The solar mosaic technology allows the EF1-T to recharge its battery while in use, enhancing its utility for commercial customers.

Where can I find more information about EdisonFuture?

More information about EdisonFuture and the EF1-T can be found on their newly launched website at www.edisonfuture.com.