SPI Energy’s Phoenix Motorcars Appoints Auto Industry Veteran Frank Jenkins as VP of Business Partnerships and Development

Rhea-AI Summary

SPI Energy Co., Ltd. (NASDAQ:SPI) has appointed Frank Jenkins as the new Vice President of Business Partnerships and Development for its subsidiary Phoenix Motorcars. Jenkins, with over 35 years of experience in the automotive industry, previously held senior roles at Denso, Electric Vehicles International, and General Motors. His extensive background in strategic partnerships and commercial sales is expected to aid Phoenix in scaling production and securing industry collaborations, particularly with plans to open a second production facility in Detroit.

Positive

• Frank Jenkins' appointment is expected to strengthen Phoenix Motorcars' leadership in the electric vehicle sector.
• Jenkins' extensive automotive experience could enhance strategic partnerships and business development efforts.
• Plans for a second production facility in Detroit signal growth ambitions and potential market expansion.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / January 26, 2021 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), 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 Phoenix Motorcars, a wholly owned subsidiary of the Company's EdisonFuture subsidiary, appointed Frank Jenkins as its new Vice President, Business Partnerships and Development.

Jenkins brings more than 35 years of experience in the automotive industry with expertise in marketing, sales, strategic and product development, and establishing key beneficial partnerships and extensive knowledge of the light duty, medium duty, and heavy-duty truck markets. Prior to joining Phoenix, Jenkins was Senior Manager/Director of the Commercial and Heavy-Duty Division at Denso, Vice President of Sales and Marketing at Electric Vehicles International (EVI), President of Electric Motors Corporation, Vice President of Sales at Motiv Power Systems, and key leadership commercial sales and marketing positions at General Motors.

At General Motors, Jenkins managed multiple field sales and marketing teams responsible for General Motors' largest fleet customers and created a new division of 350 dealers to grow commercial sales. His sales responsibility ranged from 300,000 units to 500,000 units annually, and he managed a $300 million budget delivering on average over $2 billion in variable net profit. Jenkins also increased non-fleet commercial pickup market share by 10 points, gaining market leadership. Jenkins is credited with creating the majority of mainstay fleet and commercial marketing incentives still in place at General Motors today.

"Frank is a great addition to our team," stated Tarek Helou, COO of Phoenix Motorcars. "Based in Detroit, Frank is well positioned to help us with our plans to open a second production facility in the home of the US auto industry. His wealth of experience across the automotive market will be a great asset for us as we look to secure key industry partnerships and rapidly scale production and sales moving forward."

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.

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. 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. 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.

Contact:

SPI Energy Co., Ltd.
IR Department
Email: 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

Who is the new Vice President of Business Partnerships at SPI Energy's Phoenix Motorcars?

Frank Jenkins has been appointed as the new Vice President of Business Partnerships and Development.

What are Frank Jenkins' qualifications for his role at SPI Energy?

Jenkins brings over 35 years of automotive industry experience, including roles at Denso and General Motors.

What impact will the new VP have on SPI Energy's business?

Jenkins is expected to help Phoenix Motorcars scale production and secure key industry partnerships.

Where is the new production facility for Phoenix Motorcars planned?

The new facility is planned to open in Detroit, enhancing production capabilities.