SPI Energy’s EdisonFuture to Debut Its Next Generation Solar-Electric Pickup Truck and Utility Van at the LA Auto Show in November

Rhea-AI Summary

SPI Energy announces the debut of its next-generation electric pickup truck, EF1-T, at the LA Auto Show from November 19-28. The truck, featuring solar mosaic technology, can generate up to 600kW power. SPI will begin accepting reservations during the event. The EF1-V utility van will also be showcased, offering flexible configurations and substantial cargo capacity. The demand for electric pickups is high, with a significant portion of consumers considering electric options. The global last-mile delivery market is projected to grow substantially, further driving demand for such vehicles.

Positive

• Debuting the EF1-T electric pickup truck could enhance brand visibility and market penetration.
• The EF1-T features solar mosaic technology, offering innovative energy solutions for commercial use.
• Strong market demand for electric pickups is indicated by the growing consumer interest.
• The last-mile delivery market's substantial growth forecast supports SPI's strategic focus on electric vehicles.

Negative

• None.

The Company to begin accepting reservations to book orders for EF1-T and EF1-V solar-electric vehicles during the show

SANTA CLARA, CA / ACCESSWIRE / October 21, 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, today announced its wholly owned EdisonFuture Motor Inc. ("EdisonFuture") subsidiary will debut its next-generation electric pickup truck, EF1-T, at the Los Angeles Auto Show ("LA Auto Show®"), taking place November 19-28 at the Los Angeles Convention Center. The EF1-T will be on display at EdisonFuture's booth: Atrium WA-14. The company will accept reservations to book EV orders during the show.

"We're excited for the opportunity to showcase our latest EV innovations at the LA Auto Show, the first major auto show of the season," stated Mr. Denton Xiaofeng Peng, Chairman & Chief Executive Officer of SPI Energy. "With industry influencers, car enthusiasts, and consumer buyers in attendance, the LA Auto Show provides a tremendous platform to bring awareness to the next-generation technology powering our EF1-T e-pickup truck."

EdisonFuture's EF1-T e-pickup truck, developed in partnership with Icona and leading auto partners, is the first product in a line of advanced all-electric pickup trucks and last-mile delivery vans. 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.

The EF1-V e-utility van is built on the same chassis as the EF1-T and comes in both single- and dual-motor models, with 298kW and 514kW of power, respectively, with the option for solar mosaic technology and multiple height options providing cargo capacity of between 260 to 400 cubic feet.

Approximately 2.9 million pickup trucks were sold in the US in 2020, representing nearly 20% of the entire US vehicle 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.

The global last-mile delivery market was valued at $18.7 billion in 2020 and is expected to grow to $62.7 billion by 2027, according to AllTheResearch. The World Economic Forum recently reported increasing last-mile delivery demands will drive a 36% increase in the number of delivery vehicles in the world's top 100 cities by 2030. With fleet operators pursuing environmentally friendly logistic practices, such as Amazon's ordering of 100,000 electric delivery vans and FedEx's plans to completely electrify its entire pickup and delivery fleet by 2040, demand for last-mile EV solutions is expected to increase significantly.

About EdisonFuture

Founded in 2020, EdisonFuture Motor Inc., the subsidiary of SPI Energy, is designing new lines of zero-emission vehicles that incorporate a vision for human-centered future transportation and revolutionize how customers and vehicles interact. For more information, please visit https://edisonfuture.com/.

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. (NASDAQ:SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and has its operation headquarters is in Santa Clara, California.

The company has three core divisions: SolarJuice residential solar, the commercial & utility solar division comprised of SPI Solar and Orange Power, and the Edisonfuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, EV forklifts and other industrial vehicles, electric scooters, and other EV products.

SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.

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.

SPI Energy Co., Ltd. Contact:
IR Department
ir@spigroups.com
Randy Conone, SVP of Investor Relations & Finance
randy.conone@spigroups.com

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

SOURCE: SPI Energy Co., Ltd.

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FAQ

When will SPI Energy debut the EF1-T electric pickup truck?

SPI Energy will debut the EF1-T electric pickup truck at the LA Auto Show from November 19-28, 2021.

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

The standard EF1-T model offers a power output of 350 kW (470 HP), while the top 'Super' model provides 600 kW (816 HP).

What market trends are driving SPI Energy's electric vehicle offerings?

The global demand for last-mile delivery solutions and the increasing consumer interest in electric pickups are driving SPI Energy's vehicle offerings.

How is SPI Energy addressing the growing electric vehicle market?

SPI Energy is addressing the market by introducing the EF1-T and EF1-V, designed for commercial and utility customers, showcasing at major auto shows.

What is the expected growth of the last-mile delivery market?

The global last-mile delivery market is expected to grow from $18.7 billion in 2020 to $62.7 billion by 2027.