Phoenix Motorcars to Showcase Gen 4 Electric Shuttle Bus at San Francisco Airport Clean Air Vehicle Expo

ANAHEIM, CA / ACCESSWIRE / October 11, 2023 / Phoenix Motor Inc. (NASDAQ:PEV) ("Company" or "Phoenix"), a leader in manufacturing of all-electric, medium-duty vehicles, today announced its participation in the San Francisco Airport's Clean Air Vehicle Expo, supporting the efforts to decarbonize ground transportation around the airport. With a commitment to providing clean and efficient transportation options, Phoenix is helping drive the future of sustainable mobility.

Phoenix Motorcars specializes in manufacturing electric shuttle buses and utility vehicles that are designed for various applications, including airport transportation. Phoenix Motorcars will showcase its fourth-generation all-electric shuttle bus, capable of driving up to 150 miles on a single charge. All Phoenix shuttle buses come equipped with both 19.2 kW Level II charging and 100 kW CCS Level III fast charging capability.

Phoenix Motorcars collaborates closely with fleet owners to craft shuttle solutions that align with their operational requirements. This bespoke approach allows for flexible seating arrangements, interior configurations, and vehicle sizes to accommodate varying passenger capacity and luggage needs.

As a pioneer in the electric shuttle bus market, Phoenix has deployed over 50 all-electric shuttle buses across airports in United States. The Zero-Emission Airport Shuttle Regulation, adopted in June 2019 by the California Air Resources Board, requires airport shuttle operators to transition to 100 percent zero-emission vehicle (ZEV) technologies. Phoenix Motorcars' electric shuttles are designed to meet these evolving regulatory standards, making them a valuable asset for environmentally conscious organizations.

"Phoenix Motorcars is at the forefront of the electric shuttle bus revolution, offering innovative and sustainable solutions that are reshaping airport transportation. As the electric vehicle market continues to evolve with technological advancements and changing environmental regulations, we remain committed to providing forward-thinking solutions for a greener future," said Denton Peng, CEO of Phoenix Motorcars.

"We look forward to working with various shuttle bus operators at airports in California and beyond. Since deploying our first airport shuttle in 2015, we have worked with several parking companies, hotels and other ground transportation companies to enable electrification of their fleets", said Jose Paul, Chief Revenue Officer of Phoenix Motorcars. "Our fourth-generation vehicles can enable significant cost savings and positive environmental impacts today!"

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, "Phoenix Motorcars," which is focused on commercial products including medium duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others), electric vehicle chargers and electric forklifts, 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. For more information, please visit: www.phoenixmotorcars.com.

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 factors include, among others, 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 20-F 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.

Investor Relations
Mark Hastings, Senior Vice President of Corporate Development & Strategy/Head of Investor Relations
marketing@phoenixmotorcars.com

SOURCE: Phoenix Motorcars Inc.