ANAHEIM, CA / ACCESS Newswire / February 18, 2025 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the formation of EdisonFuture International Co., Ltd., a wholly-owned subsidiary based in Hong Kong. This new entity will focus on international opportunities, leveraging Phoenix Motor's advanced EV technologies and brand strengths to expand into global markets.
EdisonFuture International will serve as the company's international arm, aiming to establish a strong presence in key regions including the Caribbean, South America, Europe, and Asia. While Phoenix Motor's existing brands, "PhoenixEV" and "EdisonFuture," primarily serve U.S. customers with medium and heavy-duty commercial EVs and light-duty EVs, respectively, the new subsidiary will drive global expansion by utilizing international supply chain resources, financial networks, and market development strategies.
"The formation of EdisonFuture International marks a significant milestone for Phoenix Motor as we extend our footprint beyond the U.S. and tap into the rapidly growing global EV market," said Denton Peng, CEO of Phoenix Motor. "By establishing operations in Hong Kong, a key gateway to international business, we will optimize supply chain efficiencies, strengthen financial partnerships, and accelerate market penetration in high-growth regions."
EdisonFuture International will initially focus on leveraging Asian supply chain networks to support its expansion into international markets. The company plans to work closely with regional partners to introduce Phoenix Motor's proven EV technologies to commercial fleets, logistics providers, and municipalities looking to transition to sustainable transportation solutions.
As part of this initiative, Phoenix Motor will explore strategic alliances and collaborations with international stakeholders to drive innovation, enhance product offerings, and support the global adoption of zero-emission transportation. The company is committed to aligning with local regulatory frameworks and sustainability goals to ensure a seamless market entry and long-term success.
About Phoenix Motor Inc.
Phoenix Motor, a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and manufactures heavy duty transit buses and medium and light duty commercial EVs. Phoenix operates two primary brands, "Phoenix", which is focused on commercial products including heavy and medium duty EVs (transit buses, shuttle buses, school buses and delivery trucks, among others) and "EdisonFuture", which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. To learn more, please visit: phoenixev.ai.
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 risk factors include, among others, those related to our ability to raise additional capital necessary to grow our business, operations and business and financial performance, our ability to grow demand for our products and revenue, our ability to become profitable, our ability to have access to an adequate supply of parts and materials and other critical components for our vehicles on the timeline we expect, 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 10-K 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:
IR@phoenixev.ai
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
PEV@redchip.com
SOURCE: Phoenix Motor Inc.
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