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PEV-News
PEV-Events
Phoenix Motor appoints John Walsh as president, CEO of PhoenixEV
Phoenix Motor announced the appointment of John Walsh as President of Phoenix Motor and CEO of PhoenixEV, the Company's U.S.-based commercial EV brand focused on light, medium- and heavy-duty vehicles built in America for the American market. Denton Peng remains CEO of Phoenix Motor, continuing to lead the Company's overall strategic direction, innovation roadmap, and global operations. Most recently Walsh served as President of EO Charging Americas, where he led commercial fleet electrification efforts across North America.
Phoenix Motor unveils MEV2/LSV delivery electric vehicle
Phoenix Motor announced the launch of the PhoenixEV MEV2/LSV, a California-assembled, low-speed electric mini car/van engineered specifically for gig-economy food delivery providers such as Uber Eats, DoorDash and Instacart, as well as broader last-mile logistics operators. The MEV2/LSV forms the cornerstone of Phoenix's new Fleet-as-a-Service offering, combining vehicle leasing, charging, maintenance and telematics into a single subscription designed to lower total cost of ownership for fleet operators. Customer deliveries are slated to begin in Q4 2025, with production pilots starting earlier that quarter.
Phoenix Motor to expand manufacturing capabilities in Henan Province
Phoenix Motor announced a significant expansion of its global manufacturing capabilities through a newly signed agreement to utilize over 1.6M square feet of existing EV production facilities in Henan Province, China-rent-free for an initial 10-year term. The company will begin producing electric vehicles for the Latin American and other international markets at this location, while also in-sourcing selected EV component manufacturing to support U.S. operations. This strategic move increases Phoenix's total global manufacturing footprint to nearly 2M square feet. The expanded footprint will support manufacturing and assembly of Phoenix's EdisonFuture-branded EVs-including EF2, EF3, MEV1, MEV2, and MEV3 models-tailored for international markets. In addition to manufacturing vehicles destined for Latin America and other overseas markets, the facility will also serve as a production hub for selected EV components destined for Phoenix's U.S. operations-supporting its facilities in Anaheim, California and Greenville, South Carolina. This expansion is expected to significantly enhance Phoenix's production capacity and operational efficiency while reducing time-to-market for key international offerings.
Phoenix Motor to supply Los Angeles County with five Z-400 shuttle buses
Phoenix Motor announced its first order of five all-electric, zero-emission Z-400 shuttle buses from the County of Los Angeles Internal Services Department. These electric vehicles, built on the Ford E-450 chassis and powered by PhoenixEV technology, will enhance transit options for residents living in Los Angeles County Development Authority public housing sites, offering a more sustainable way to connect. ISD, in collaboration with LACDA, secured a critical California Air Resources Board Sustainable Transportation Equity Project grant for its "Empowerment in Motion" initiative.
Phoenix Motor announces receipt of Nasdaq listing delinquency letter
Phoenix Motor received a notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market indicating that the Company is no longer in compliance with Listing Rule 5250(c)(1) due to its failure to file its Annual Report on Form 10-K for the year ended December 31, 2024. This matter serves as an additional basis for delisting the Company's securities from Nasdaq. As previously disclosed, on April 8, the Company received a determination letter from the Staff stating that the Staff had determined to delist the Company's securities due to the Company's continued non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share, and Listing Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders within one year of the end of the fiscal year. Trading of the Company's common stock on Nasdaq was suspended at the opening of business on April 15, 2025. The Company's common stock is currently quoted on the OTC Pink Market under the symbol "PEVM". The Company has requested and been granted a hearing before the Nasdaq Hearings Panel to appeal the Staff Determination. The Notice also states that, pursuant to Listing Rule 5810(d), the Company should present its views with respect to the failure to file the Form 10-K at its Panel hearing. The Company is currently in the process of reviewing and completing the necessary procedures related to the Form 10-K and the associated financial statements. Although the Company is working diligently to file the Form 10-K as soon as possible, there can be no assurance that the Form 10-K will be filed prior to the Panel hearing, or that the Panel will grant the Company's request to reinstate its listing on Nasdaq. If the Company's appeal is denied, or if the Company fails to timely regain compliance with Nasdaq's continued listing standards, its common stock will remain delisted from Nasdaq.
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