SPI’s EdisonFuture Subsidiary Accelerates RideZoomers Electric Scooter Rollout with Addition of New Amazon Store
SPI Energy announced the launch of a new Amazon Store by its subsidiary, RideZoomers, to enhance sales of its Zoomer electric scooters. After acquiring RideZoomers in July 2021, initiatives to strengthen customer service and inventory management have been implemented, aiming for accelerated growth. The electric scooter market is projected to reach $644.5 billion by 2028, with a CAGR of 29.4%. The Zoomer model offers impressive specs, including a top speed of 30mph and over 30 miles on a single charge.
- Launch of RideZoomers' new Amazon Store expected to accelerate sales growth.
- Strengthened customer service and inventory management for improved operational efficiency.
- The electric scooter market is projected to reach $644.5 billion by 2028, indicating strong growth potential.
- None.
SANTA CLARA, CA / ACCESSWIRE / September 30, 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 that RideZoomers, Inc. ("RideZoomers"), a wholly owned subsidiary of the Company, launches a new Amazon Store to accelerate sales of its Zoomer and Zoomer 2 electric scooter models.
"RideZoomers' revamped customer service and inventory management systems, along with new product line expansions, have significantly strengthened its foundation for accelerated growth moving forward. I am extremely proud of our team's rapid execution on these initiatives since acquiring RideZoomers in July of this year," commented Xiaofeng Denton Peng, Chairman and CEO of SPI Energy. "Now in addition to our in-house direct-to-consumer sales programs, we believe the new Amazon Store fast-track sales growth as we reach an even wider audience of potential buyers."
Established in Seattle in 2019 as a scooter-sharing startup, RideZoomers pivoted to a direct-to-consumer and hardware business model in 2020 in the wake of the COVID-19 outbreak. SPI's EdisonFuture acquired the assets of RideZoomers in July 2021.
The Zoomer model boasts some of the highest caliber stats in its category. With a 60v 2,000W rear hub motor, 1200W battery for over an hour of continuous ride time, and 30mph top speed, it's an incredible ride with thrilling performance. The Zoomer 2, first launched in September 2021, builds on the widely successful Zoomer model. Learn more at https://ridezoomers.com/.
The electric scooter market is expected to reach
About RideZoomers
RideZoomers, Inc., is a premium, all electric, long range scooter provider, designed from the ground up with safety in mind, serving customers of nearly every shape and size with a variety of products. The Zoomer is built from the ground up to offer an exceptional riding experience with a 30mph top speed and over 30 miles of range for a charge. Zoomers also offer a wide range of accessories to fit the lifestyle needs of any customer, including front baskets, rear cargo racks, golf bag carriers and more.
Zoomers offer a quality customer experience and arrive ready to ride with minimal setup. The Zoomer has also been designed for easy and cheap maintenance costs over its lifetime of ownership thanks to an isolated electric rear hub motor, high quality disc brakes, a 1,200W lithium ion battery and advanced charging technologies. Learn more at ridezoomers.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 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, 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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