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Accelerate development time, improve quality and reduce costs for Phoenix’s 4th generation vehicles.
ANAHEIM, Calif.–(BUSINESS WIRE)–Phoenix Motor (Nasdaq: PEV) (the “Company” or “Phoenix”) is a pioneer in manufacturing all-electric midsize vehicles and IAT automotive technology. . Co., Ltd. (Shenzhen Stock Exchange: 300825) (“IAT”) today announced an agreement aimed at advancing engineering and design work for the fourth generation (“Gen 4”) of Phoenix Motorcar. Electric car. This collaboration is expected to maximize cost efficiency, reduce time to market and ensure the highest quality standards during the critical vehicle development stages.
Phoenix’s fourth-generation vehicle, which is expected to begin production and delivery in 2023, will feature new options designed to increase customer satisfaction and efficiency, and should result in lower prices for Phoenix’s customers. is. Phoenix’s fourth-generation electric vehicle will include features such as fixed battery and replaceable battery systems, and will add eAxle technology for greater efficiency and greater range.
Phoenix Motorcars CEO Dr. Lance Zhou commented: As a leading automotive research and development company, he says that cooperation with IAT is a key element of the company’s ‘asset-light’ strategy, ensuring the 4th generation vehicles are released on time, within budget, and exceed the highest quality standards. It gives me the confidence that it should be. ”
About Phoenix Motor
Phoenix Motor Inc. is a pioneer in the electric vehicle (“EV”) industry, designing, manufacturing and integrating electric drive systems and small and medium EVs, electric forklifts and electric vehicles for commercial and residential markets. We sell chargers. Phoenix consists of two major brands, “Phoenix Motor Cars”, which focus on commercial products such as medium-sized EVs (shuttle buses, school buses, municipal transport vehicles, delivery trucks, etc.), electric vehicle chargers and electric forklifts. I’m here. EdisonFuture plans to offer a lightweight EV. Phoenix aims to be the leading designer, developer and manufacturer of electric vehicles and electric vehicle technology. For more information, please visit www.phoenixmotorcars.com and www.edisonfuture.com.
About IAT Automobile Technology Co., Ltd.
Founded in 2007, IAT is an independent automotive engineering service provider that also specializes in the development and manufacturing of key vehicle components. The company’s R&D business covers the entire industrial chain, including the planning, design and customization of both ICE models and NEVs, as well as the development, manufacture and sale of key automotive components. With approximately 2,600 employees, IAT has supported more than 60 car manufacturers. Headquartered in Beijing, IAT has advanced R&D centers in Shanghai, Japan, the United States, Europe and many other locations. The company entered his R&D service for his BEV in 2009. His 13+ years of experience in BEV R&D makes IAT a trusted brand independent engineering and manufacturing partner for his OEMs.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans and objectives., goals, strategies, future events or performance, and underlying assumptions and other statements other than statements of historical fact.We ‘may’, ‘will’, ‘intend’, ‘should’, ‘believe’, ‘expect’, ‘anticipate’, ‘predict’, ‘estimate’ When using words such as or expressions similar to these Forward-looking statements are made that do not relate solely to historical issues. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from our expectations set forth in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to: Our product development timeline and anticipated production start-up. Development of competitive trucks and vans manufactured and sold by our competitors and the industry’s leading vehicle companies. Our ability to scale in a cost-effective manner. our future capital requirements and sources of funding and use of cash; our ability to raise funds for future business; our financial and business performance; changes in our strategy, future operations, financial condition, estimated revenues and losses, projected costs, forecasts and plans; Implementation, market acceptance and success of its business model. expectations regarding our ability to obtain and maintain intellectual property protection and not infringe the rights of others; Other Risks Contained in the Offering Prospectus and Reports Filed with the SEC by the Company. For these reasons, among other things, investors are cautioned not to place undue reliance on the forward-looking statements in this press release. Other factors are described in the Company’s filings with the SEC, including those described in the Risk Factors section of the Company’s registration statement and initial public offering prospectus. These can be found at www.sec.gov. We undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.
View source version at businesswire.com: https://www.businesswire.com/news/home/20221010005224/en/
Investor Contact:
Mark Hastings, SVP and Head of Investor Relations
ICR Inc. Siobhan Hickey
[email protected]
Source: Phoenix Motor Co., Ltd.
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