PHOENIX MOTOR INC. Stock Price, News & Analysis

Phoenix Motor (OTC PINK:PEV) has announced a major expansion of its global manufacturing capabilities through a strategic agreement in China. The company has secured rent-free access to 1.6 million square feet of EV production facilities in Henan Province for an initial 10-year term, bringing its total global manufacturing footprint to nearly 2 million square feet.

The facility will produce EdisonFuture-branded EVs including EF2 SUV, EF3 crossover, and MEV Series vehicles for Latin American and other international markets. The agreement was made with Shandong Maolin Sida Automobile Co., Ltd. and Mengzhou Enbowei Automobile Technology Co., Ltd., with Phoenix establishing a wholly-owned subsidiary in Mengzhou to manage operations.

Notably, the agreement includes an option for Phoenix to acquire a majority stake in Enbowei after five years of continuous operation. The facility will also serve as a production hub for selected EV components supporting Phoenix's U.S. operations in Anaheim, California and Greenville, South Carolina.

Phoenix Motor (OTC PINK:PEVM) reported its Q1 2025 financial results, with revenue of $4.4 million, down from $9.4 million in Q1 2024. The company achieved a gross margin of 30.9%, up from 26.6% year-over-year, while operating expenses decreased to $3.3 million. Net loss was $2.8 million compared to net income of $16.8 million in Q1 2024.

Key achievements include launching the world's first wirelessly charged medium-duty electric shuttle bus, unveiling 40-foot zero-emission automated buses, and surpassing 60 million zero-emission miles. The company secured strategic partnerships, including a cooperation with Guorun Venture Capital for an RMB 1 billion M&A fund, and won contracts from California DGS and Los Angeles County.

Management projects revenue between $40-50 million for 2025.

Phoenix Motor (PEV) reported exceptional financial results for FY2024, with revenue surging 898% to $31.1M from $3.1M in FY2023. The company achieved a remarkable turnaround with net income of $7.9M, compared to a $20.6M loss in the previous year. Gross profit improved to $7.1M with a 23.6% margin. Key developments include the acquisition of Proterra's transit business, securing major customer orders, launching wireless charging technology, and establishing an AI R&D center. The company strengthened its leadership team, raised $17.1M through financing, and initiated a $5M share repurchase program. Management projects FY2025 revenue of $40-50M as Phoenix expands its presence in the commercial EV market.

Phoenix Motor (PEV) has secured an order for five Z-400 all-electric shuttle buses from Los Angeles County's Internal Services Department. The zero-emission vehicles will serve residents of LA County Development Authority public housing sites. The order is part of the "Empowerment in Motion" initiative, funded by a California Air Resources Board STEP grant.

The Z-400 shuttles feature a 90-kWh battery pack with a 125-mile range and can fully recharge in under two hours using a 100-kW Level III charger. Each vehicle reduces CO2 emissions by approximately 61 tons annually while offering up to 75% lower maintenance costs and 80% reduction in fuel expenses compared to gas-powered alternatives.

Phoenix Motor Inc. (PEV) has announced its participation in the 2025 U.S. Caribbean Business Conference in Miami, Florida from May 13-14, 2025. The conference, organized by the U.S. Commercial Service, represents a strategic move for PhoenixEV's global expansion into Caribbean and Latin American commercial vehicle markets.

The company will engage with high-level delegates and stakeholders to explore fleet electrification opportunities and market entry strategies. PhoenixEV will showcase its latest innovations, including next-generation medium-duty EV chassis and transit bus platform. CEO Denton Peng emphasized the company's readiness to support the region's transition to electric mobility through their experience in EV technology and fleet deployment.

Phoenix Motor (OTC PINK:PEVM), a manufacturer of heavy-duty transit buses and electrification solutions for medium-duty vehicles, will host a webinar on June 4, 2025, at 4:15 p.m. ET to discuss its fiscal year 2024 financial results. The company projects 2024 revenue between $30.7-31.2 million, representing a more than tenfold increase from $3 million in 2023, and expects to report positive net income, marking a significant turnaround from previous losses. For 2025, Phoenix Motor forecasts revenue of $40-50 million, driven by market expansion and strong demand for its zero-emission commercial vehicle solutions. The webinar will feature CEO Denton Peng, CFO Michael Yung, COO Lewis Liu, CRO Jose Paul Plackal, and CTO Tony Zhou, followed by a Q&A session.

Phoenix Motor (OTC:PEVM) has raised its 2024 revenue guidance to $30.7-$31.2 million, up from its previous March forecast. This new guidance represents a more than tenfold increase from 2023's revenue of $3 million. The company, which manufactures heavy-duty transit buses and provides electrification solutions for medium-duty vehicles, also reaffirmed its 2025 revenue target of $40-$50 million.

CEO Denton Peng cited robust traction across transit bus and electrification segments, with growing backlog and expanded customer base. The company expects to achieve positive net income for 2024. With the commercial EV market projected to reach $55.9 billion by 2029, Phoenix Motor aims to capitalize on industry growth through new product introductions and geographic expansion.

Phoenix Motor Inc. (PEV) has secured a significant multi-category contract from the California Department of General Services (DGS) for Battery Electric Buses. The contract covers three categories: 35-foot, 40-foot, and Cutaway Battery Electric Buses.

This award enables California state and local government agencies to directly purchase PEV's zero-emission buses through a streamlined, pre-approved process, avoiding lengthy bid procedures and accessing pre-negotiated pricing. The contract supports public fleets in meeting California's climate and air quality mandates while accelerating their electrification goals.

The company's BEBs are engineered for high performance, long range, and passenger comfort, with emphasis on reliability and total cost of ownership. This achievement follows PEV's recent developments in autonomous vehicle technology and the expansion of its Greenville, South Carolina manufacturing facility.

Phoenix Motor Inc. (NASDAQ:PEV) has received a notice from Nasdaq indicating non-compliance with listing requirements due to failure to file its 2024 Annual Report (Form 10-K). This adds to existing delisting concerns, as the company previously received a determination letter on April 8, 2025, for non-compliance with minimum bid price requirement ($1.00 per share) and failure to hold an annual shareholder meeting. Trading of PEV stock was suspended on Nasdaq from April 15, 2025, and is now trading on the OTC Pink Market as "PEVM". The company has requested a hearing before the Nasdaq Hearings Panel to appeal the delisting determination, though there's no guarantee of successful reinstatement.