SPI Subsidiary Opens RideZoomers Electric Scooter Retail Shop and Service Center in Fremont, California

Rhea-AI Summary

SPI Energy Co., Ltd. (NASDAQ: SPI) has launched its first RideZoomers electric scooter retail and service center in Fremont, California. The opening aligns with the increasing demand for electric scooters and aims to enhance customer experience. The store features Solar4America solutions, reflecting SPI’s commitment to renewable energy. This strategic location in a high-traffic area is expected to boost sales, complementing SPI's ongoing direct-to-consumer initiatives and online presence.

Positive

• Opening of the first RideZoomers retail store enhances brand visibility.
• Strategically located in a high-traffic area to attract consumers.
• Incorporation of Solar4America products supports renewable energy offerings.
• Retail expansion aligns with increasing demand for electric scooters.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / January 24, 2022 / 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 the opening of its first RideZoomers electric scooter retail store and service center in Fremont, California. RideZoomers Inc. is an affiliate of the Company.

"With the demand for electric scooters continuing to rise, we are excited to bring our RideZoomers products to the Bay Area with the opening of our first retail shop and service center in Fremont," commented Denton Xiaofeng Peng, Chairman and CEO of SPI Energy. "The Bay Area is a very large market opportunity for our products right in our backyard, and we are thrilled to provide our consumers with an improved customer experience and better service options. Our new storefront is ideally located in a high-traffic area and complements our expanding in-house direct-to-consumer sales programs and the wide reach of our Amazon Store, strengthening our brand image and fast-tracking sales growth."

In addition to offering RideZoomer electric scooters, the Fremont store will include a Solar4America showroom displaying the latest available branded on- and off-grid solar, battery, EV charger, and home energy solutions. 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 Energy acquired the assets of RideZoomers in July 2021. The Fremont City store is located at 6066 Stevenson Boulevard., Fremont, California, 94538.

About RideZoomers

RideZoomers, Inc is a global provider of small form factor electric vehicle (EV) solutions for personal and residential customers. The company provides its own developed seated electric scooters for a variety of personal and professional uses. The company has its headquarters in Livermore, California and currently maintains operations in the United States. Learn more at https://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 EV solutions that was founded in 2006 in Roseville, California and is headquartered 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 Motorcars 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 American 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 regions, including the U.S., U.K., and Europe. Phoenix Motorcars is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric forklifts, 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 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
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/685121/SPI-Subsidiary-Opens-RideZoomers-Electric-Scooter-Retail-Shop-and-Service-Center-in-Fremont-California

FAQ

What is the significance of SPI Energy's new store opening in Fremont?

The new store enhances SPI Energy's brand visibility and addresses the growing demand for electric scooters in the Bay Area.

How does SPI Energy plan to improve customer service with the new RideZoomers store?

The Fremont store is designed to provide an improved customer experience along with service options for electric scooters.

What additional products will be featured at the Fremont RideZoomers store?

The store will also showcase Solar4America solutions, including solar panels, EV chargers, and home energy solutions.

What impact does the new store have on SPI Energy's sales strategy?

The store complements SPI's direct-to-consumer sales programs and enhances their presence in the competitive electric scooter market.

When was the Fremont RideZoomers store opened?

The Fremont RideZoomers store was officially opened on January 24, 2022.