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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.
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