PHOENIX MOTOR INC. - PEV STOCK NEWS

Phoenix Motor Inc. has formally appealed Nasdaq's delisting determination following the trading halt of its stock (PEV) on April 15, 2025. The suspension resulted from non-compliance with the minimum bid price requirement and failure to hold a 2024 annual shareholder's meeting.

The company has requested a hearing before the Nasdaq Hearings Panel and initiated transition to over-the-counter (OTC) trading. To address compliance issues, the Board is recommending shareholders approve a reverse stock split with a ratio range of 1-for-1.5 to 1-for-5. Additionally, the company has scheduled its annual shareholder meeting for April 18, 2025, at its Anaheim headquarters.

Phoenix Motor (NASDAQ:PEV) has announced a strategic partnership with ADASTEC Corp. to develop and deploy 40-foot battery-electric buses with Level-4 automated driving capabilities. The collaboration combines PhoenixEV's zero-emission vehicle manufacturing expertise with ADASTEC's flowride.ai automated driving software platform.

The partnership aims to address the growing demand for sustainable public transit solutions, offering Buy America compliant 35' and 40' battery electric buses equipped with advanced perception, mapping, and decision-making capabilities for driverless operation in designated environments. The initiative targets transit agencies, universities, and municipal operators.

The first vehicle from this collaboration is scheduled to debut later this year, with demonstration pilots planned for early 2026. The automated electric buses are designed to help address labor shortages while improving service reliability in public transportation.

Phoenix Motor (Nasdaq: PEV) and InductEV have unveiled the world's first commercially available medium-duty electric shuttle bus with wireless inductive charging capabilities. The groundbreaking integration enables hands-free charging at designated locations, eliminating the need for traditional plug-in systems.

The wireless charging technology allows for opportunity charging during brief stops, extending vehicle range and operational hours. Key benefits include:

• Maximized uptime through automated charging
• Reduced infrastructure footprint
• Lower maintenance costs
• Enhanced safety by eliminating cable-related risks
• Scalable operations without major infrastructure changes

The solution can be applied across PhoenixEV's vehicle catalog, including electric trucks and Type A school buses, making zero-emission transportation more accessible and efficient for fleet operators.

Phoenix Motor (NASDAQ:PEV) has announced a significant share repurchase program approved by its Board of Directors, authorizing the buyback of up to $5 million of its outstanding common stock. The company, which specializes in manufacturing heavy-duty transit buses and providing electrification solutions for medium-duty vehicles, will execute the buyback through open market purchases and private transactions.

CEO Denton Peng stated that the current share price undervalues Phoenix Motor's long-term prospects, emphasizing that the repurchase program demonstrates confidence in the business while maintaining disciplined capital allocation. The program's implementation will be influenced by various factors including market conditions, share price, and regulatory considerations, with no obligation to repurchase a specific number of shares.

Phoenix Motor Inc. (NASDAQ:PEV), a manufacturer of heavy-duty transit buses and electrification solutions, announces an exclusive investor webinar scheduled for May 6, 2025, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature CEO Denton Peng.

The company has achieved significant milestones with its vehicles accumulating over 60 million all-electric miles, resulting in more than $30 million in fuel cost savings. Phoenix Motor projects substantial growth with:

• 2024 revenue forecast of $30-31 million, a tenfold increase from $3 million in 2023
• Expected positive net income in 2024, improving from previous year's loss
• 2025 revenue projection of $40-50 million

The webinar will include a live Q&A session, with pre-submission of questions available via PEV@redchip.com.

Phoenix Motor (Nasdaq: PEV) has announced the postponement of its Annual Meeting of Stockholders, which was originally scheduled for March 21, 2025, at 11:00 AM Pacific Time. The company will determine and announce a new date for the Annual Meeting in the future. Additional information regarding the rescheduled meeting date and potential new record date will be provided once available.

Phoenix Motor (NASDAQ:PEV) announced that its subsidiary EdisonFuture International has signed a strategic agreement with Beijing Guorun Venture Capital to establish a RMB 1 billion (USD 140 million) M&A investment fund. The fund will support the acquisition and development of EV manufacturing sites in China.

Under the agreement, Guorun will create a specialized M&A investment entity to acquire strategic EV production assets, including land, factories, equipment, and intellectual property in China, as designated by EdisonFuture International. The partnership aims to integrate Phoenix's EV technologies with China's supply chain ecosystem to create a cost-efficient platform serving both domestic and international markets.

EdisonFuture International, based in Hong Kong, serves as Phoenix Motor's global expansion arm targeting Asia, Europe, and South America. This initiative aims to establish the company's presence in China's EV market while optimizing operational efficiencies and cost structures.

Phoenix Motor (NASDAQ:PEV) has announced a new initiative to develop autonomous robots for package pickup and last-mile delivery, expanding upon its recent autonomous food and beverage delivery vehicle program. The company aims to create a comprehensive ecosystem for automated logistics solutions.

The development will begin with a pilot program focusing on e-commerce and local package delivery. The autonomous robots will feature:

• AI-powered navigation
• Obstacle detection
• Secure compartmentalized storage

The robots are designed for both B2C and B2B applications, targeting various industries including retail, logistics, and healthcare, offering on-demand, contactless deliveries.

Phoenix Motor (NASDAQ:PEV) has secured a $6 million loan financing agreement with J.J. Astor & Co. to support expansion and production growth. The funding will be provided in two tranches: an initial $4 million followed by an additional $2 million upon approval through senior secured convertible promissory notes.

The financing will enable Phoenix Motor to scale production and fulfill pending orders for electric transit buses, strengthening its position in the zero-emission transportation market. The company aims to meet growing demand from transit agencies, municipalities, and corporate fleets.

According to market projections, the commercial electric vehicle sector is expected to grow at a 26.4% CAGR, reaching $55.9 billion by 2029.