Phoenix Motor Raises 2024 Revenue Guidance to $30.7M-$31.2M
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 (OTC:PEVM) ha aumentato le previsioni di fatturato per il 2024 a 30,7-31,2 milioni di dollari, rispetto alla stima precedente di marzo. Questa nuova previsione rappresenta un incremento di oltre dieci volte rispetto ai 3 milioni di dollari di ricavi del 2023. L'azienda, che produce autobus pesanti per il trasporto pubblico e offre soluzioni di elettrificazione per veicoli di media portata, ha inoltre confermato l'obiettivo di fatturato per il 2025 di 40-50 milioni di dollari.
Il CEO Denton Peng ha citato una forte crescita nei segmenti degli autobus per il trasporto pubblico e dell'elettrificazione, con un aumento degli ordini arretrati e una base clienti in espansione. L'azienda prevede di raggiungere un utile netto positivo nel 2024. Con il mercato dei veicoli elettrici commerciali previsto raggiungere 55,9 miliardi di dollari entro il 2029, Phoenix Motor punta a sfruttare la crescita del settore attraverso nuovi prodotti e l'espansione geografica.
Phoenix Motor (OTC:PEVM) ha elevado su previsión de ingresos para 2024 a 30,7-31,2 millones de dólares, desde su pronóstico anterior de marzo. Esta nueva guía representa un aumento de más de diez veces en comparación con los 3 millones de dólares de ingresos en 2023. La compañía, que fabrica autobuses de tránsito pesado y ofrece soluciones de electrificación para vehículos de media capacidad, también reafirmó su objetivo de ingresos para 2025 de 40-50 millones de dólares.
El CEO Denton Peng destacó una fuerte tracción en los segmentos de autobuses de tránsito y electrificación, con una creciente cartera de pedidos y una base de clientes ampliada. La empresa espera alcanzar un ingreso neto positivo en 2024. Con el mercado de vehículos eléctricos comerciales proyectado para alcanzar 55,9 mil millones de dólares para 2029, Phoenix Motor busca capitalizar el crecimiento de la industria mediante la introducción de nuevos productos y la expansión geográfica.
Phoenix Motor (OTC:PEVM)은 2024년 매출 전망을 이전 3월 예측에서 상향 조정하여 3,070만~3,120만 달러로 발표했습니다. 이번 새로운 전망은 2023년 매출 300만 달러 대비 10배 이상 증가한 수치입니다. 중형 차량용 전기화 솔루션을 제공하고 중대형 대중교통 버스를 제조하는 이 회사는 2025년 매출 목표 4,000만~5,000만 달러도 재확인했습니다.
CEO 덴튼 펭은 대중교통 버스 및 전기화 부문에서 강력한 성장세와 함께 주문 잔고 증가 및 고객 기반 확대를 언급했습니다. 회사는 2024년에 순이익 흑자를 달성할 것으로 기대하고 있습니다. 상업용 전기차 시장이 2029년까지 559억 달러에 이를 것으로 예상됨에 따라, Phoenix Motor는 신제품 출시와 지역 확장을 통해 산업 성장의 기회를 잡으려 합니다.
Phoenix Motor (OTC:PEVM) a relevé ses prévisions de chiffre d'affaires pour 2024 à 30,7-31,2 millions de dollars, contre sa prévision précédente de mars. Cette nouvelle estimation représente une augmentation de plus de dix fois par rapport aux 3 millions de dollars de revenus en 2023. L'entreprise, qui fabrique des bus de transport en commun lourds et propose des solutions d'électrification pour les véhicules de taille moyenne, a également confirmé son objectif de chiffre d'affaires pour 2025 de 40-50 millions de dollars.
Le PDG Denton Peng a souligné une forte dynamique dans les segments des bus de transport en commun et de l'électrification, avec un carnet de commandes en croissance et une base de clients élargie. L'entreprise prévoit de réaliser un bénéfice net positif en 2024. Avec un marché des véhicules électriques commerciaux prévu pour atteindre 55,9 milliards de dollars d'ici 2029, Phoenix Motor vise à tirer parti de la croissance du secteur grâce à l'introduction de nouveaux produits et à l'expansion géographique.
Phoenix Motor (OTC:PEVM) hat seine Umsatzprognose für 2024 auf 30,7-31,2 Millionen US-Dollar angehoben, gegenüber der vorherigen Prognose im März. Diese neue Prognose stellt eine mehr als zehnfache Steigerung gegenüber den 3 Millionen US-Dollar Umsatz im Jahr 2023 dar. Das Unternehmen, das schwere Transitbusse herstellt und Elektrifizierungslösungen für mittelgroße Fahrzeuge anbietet, bestätigte zudem sein Umsatzziel für 2025 von 40-50 Millionen US-Dollar.
CEO Denton Peng nannte eine starke Nachfrage in den Segmenten Transitbusse und Elektrifizierung, mit wachsendem Auftragsbestand und erweiterter Kundenbasis. Das Unternehmen erwartet, 2024 einen positiven Nettogewinn zu erzielen. Da der Markt für kommerzielle Elektrofahrzeuge bis 2029 voraussichtlich 55,9 Milliarden US-Dollar erreichen wird, will Phoenix Motor das Branchenwachstum durch neue Produkteinführungen und geografische Expansion nutzen.
- Projected tenfold revenue increase from $3M in 2023 to $30.7-31.2M in 2024
- Expected to achieve positive net income in 2024
- Growing backlog and expanded customer base
- Strong 2025 revenue outlook of $40-50M
- Well-positioned in growing commercial EV market projected to reach $55.9B by 2029
- None.
Company also reaffirms 2025 revenue targeted at
ANAHEIM, CA / ACCESS Newswire / May 6, 2025 / Phoenix Motor Inc. (OTC:PEVM), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced an upward revision to its 2024 revenue guidance, reflecting stronger-than-anticipated customer demand and increased production capacity.
The company now expects full-year 2024 revenue to be in the range of
"We are seeing robust traction across both our transit bus and electrification segments, with a growing backlog and expanded customer base," said Denton Peng, CEO of Phoenix Motor. "This revised guidance underscores the strength of our operations and the accelerating shift toward zero-emission commercial vehicles. We remain focused on execution as we scale production and deliver sustainable value to our customers and shareholders."
The company reiterated its 2025 revenue outlook of
With the commercial EV market projected to reach
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 PEVM@redchip.com
SOURCE: Phoenix Motor Inc.
View the original press release on ACCESS Newswire
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