SPI Energy’s Phoenix Motorcars Deploys Two Battery Powered Utility Trucks to the Port of Oakland

Rhea-AI Summary

SPI Energy (NASDAQ:SPI) recently announced the delivery of two all-electric Z500 utility trucks to the Port of Oakland, marking a significant milestone as the first all-electric Class-4 utility trucks at a major U.S. port. Manufactured at Phoenix Motorcars’ facility, these trucks feature a 105-kWh battery offering up to 110 miles of range. They are designed to meet sustainability goals while reducing maintenance and fuel costs. The deployment includes two fast chargers at the port, supporting the transition to zero-emission vehicles.

Positive

• First all-electric Class-4 utility trucks deployed at a major U.S. port.
• Trucks reduce maintenance costs by 75% and fuel costs by 80%.
• Deployment supports sustainability goals of the Port of Oakland.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / December 1, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced Phoenix Motorcars, which was recently acquired by the Company's wholly-owned subsidiary, EdisonFuture, delivered two of its all-electric Z500 utility trucks to the Port of Oakland, one of California's largest ports. These are the first all-electric Class-4 utility trucks to be deployed at a major port in the US.

Built at Phoenix's Ontario, California facility, the zero-emission utility trucks are built on the Ford E-450 chassis with a Knapheide KUV body and offers up to 110 mile range from its 105-kWh lithium-ion battery pack. The trucks are equipped with both Level II and Level III charging capability.

The emission-free utility trucks are equipped with multiple storage compartments, drawers, strobe lights and various other accessories, offering the same functionality as conventional gas- or diesel-powered alternatives. The electric drivetrain also helps reduce maintenance costs by 75% and fuel costs by 80%. Phoenix also supported the deployment with two 50kW fast chargers installed at the port facility.

"Phoenix Motorcars is proud to help the Port of Oakland meet its sustainability goals. The zero-emission utility truck is a unique product that has found favor with cities, large establishments like ports, and small independent contractors. Our all-electric chassis for trucks is highly customizable and we offer multiple body styles, including electric flatbed trucks, work trucks, delivery trucks, refrigerated trucks, and shuttle buses," stated Xiaofeng Peng, Chairman and CEO of SPI Energy.

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

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of photovoltaic (PV) 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:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com

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

SOURCE: SPI Energy Co., Ltd.

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FAQ

What is the significance of SPI Energy's delivery to the Port of Oakland?

The delivery of two all-electric Z500 utility trucks is significant as it marks the first deployment of all-electric Class-4 utility trucks at a major U.S. port.

What are the cost savings associated with the all-electric utility trucks?

The all-electric utility trucks reduce maintenance costs by 75% and fuel costs by 80%, offering substantial savings.

What features do the new all-electric utility trucks have?

The trucks feature a 105-kWh battery with a range of up to 110 miles and are equipped with both Level II and Level III charging capabilities.

Who manufactured the all-electric utility trucks delivered by SPI Energy?

The all-electric utility trucks were manufactured by Phoenix Motorcars, a subsidiary of SPI Energy.