SPI Energy's Stock Shoots Higher After Phoenix Motorcars Initiates Production of 3rd-Gen Drivetrain Products

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  • SPI Energy Co Ltd SPI group company, Phoenix Motorcars, had commenced production of its first third-generation drivetrain products. The first three units were completed out of the Ontario facility recently, ready for delivery.
  • Phoenix launched its first electric drivetrain in 2009 and sold its first commercial electric vehicle (EV) in 2014. The shuttles and trucks were built on the Ford Motor Co F E-450 platform.
  • The third-generation service includes shuttle buses, service trucks, utility trucks, flatbed trucks, cargo trucks, and delivery options. The new liquid-cooled modular battery pack is available in 63, 94, 125, and 156kWh configurations.
  • Price action: SPI shares traded higher by 56.3% at $9.744 in the premarket session on the last check Wednesday.
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