Phoenix Motor Inc.

General Information

Phoenix Motor Inc. designs, assembles and integrates electric drive systems as well as light- and medium-duty electric vehicles (“EVs”). The company also markets and sells electric vehicle chargers for the commercial and residential markets. The company operates two primary brands – Phoenix Motorcars, focused on commercial products, including medium-duty electric vehicles, chargers and electric forklifts, and EdisonFuture, which intends to offer light-duty electric vehicles.

The company was founded in 2003 in Anaheim, California, where it is based.

SPI Energy Co., Ltd., acquired Phoenix Motor in 2020.

(Note: Phoenix Motor Inc. trimmed its IPO at pricing on June 7, 2022, by pricing fewer shares – 2.1 million, down from 2.5 million in the prospectus – at $7.50, below the $8 mid-point of its $7-to-$9 range – to raise $15.75 million. In an S-1/A filing dated May 6, 2022, Phoenix Motor Inc. downsized its IPO by cutting the number of shares to 2.5 million, down from 4.0 million, and setting a new price range of $7 to $9 to raise $20 million. In a previous filing in late April, Phoenix Motor revamped its IPO by removing the warrants and naming a new sole book-runner, Prime Number Capital, which replaced the previous underwriters, Maxim Group, Roth Capital and EF Hutton.) 

Industry: EVs (electric buses & trucks) & EV drive systems & EV Chargers
Employees: 55
Founded: 2003
Contact Information
Address 1500 Lakeview Loop Anaheim, CA 92807
Phone Number (909) 987-0815
Web Address
View Prospectus: Phoenix Motor Inc.
Financial Information
Market Cap $160.0mil
Revenues $3.0 mil (last 12 months)
Net Income $-0.56 mil (last 12 months)
IPO Profile
Symbol PEV
Exchange NASDAQ
Shares (millions): 2.1
Price range $7.50 - $7.50
Est. $ Volume $15.8 mil
Manager / Joint Managers Prime Number Capital
CO-Managers Revere Securities/ Westpark Capital/Shengang Securities
Expected To Trade: 6/8/2022
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change