ONTARIO, CA / ACCESSWIRE / June 9, 2021 / California based Phoenix Motorcars, a group company of SPI Energy Ltd. (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, started series production of its first third-generation drivetrain products. The first three units were completed out of the Ontario facility recently, ready for delivery to customers.

Phoenix Motorcars, is one of the earliest medium-duty electric vehicle manufacturers, celebrating over 2.3MM electric miles driven and has over 45 fleet customers. Phoenix launched its first electric drivetrain in 2009 and sold its first commercial EV in 2014. The shuttles and trucks were built on the industry leading Ford E-450 platform. Following the first-generation drivetrain, Phoenix Motorcars improved on its technology a bit further, then today announced its completion and production of its third-gen drivetrain used in the service truck configuration.

The third-generation boasts the largest battery pack and longest range currently available in class 4 vehicles, lending itself to an extended range of body types to serve the widest range of customers. This includes shuttle buses, service trucks, utility trucks, flatbed trucks, cargo trucks and delivery options. The new liquid-cooled battery pack is modular, coming in 63, 94, 125 and 156kWh configurations, offering customers flexibility in terms of range, seating and payload capacity, and price.

"With our third generation coming to market, we are confident in our ability to offer the best and most customizable options to our extensive lists of customers including fleets ranging from municipalities, cities, transit agencies, airports, parking companies, universities, and corporate campuses. The amazing team here at Phoenix has worked incredibly hard to deliver this best-in-class product and inspire the transition to commercial electrification. We look forward to continued growth and expansion of our product lines with the support of SPI," said Joe Mitchell, Phoenix Motorcars CEO.

About Phoenix Motorcars
Phoenix Motorcars is a leader in developing medium-duty electric vehicles for commercial markets with a primary focus on class 3 & 4 vehicles. Phoenix Motorcars strives to provide fleets with clean transportation and renewable energy through advanced technology solutions and remains committed to excellence in electric vehicle innovation. Phoenix Motorcars offers a range of vehicle configurations, including shuttle buses, utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks and school buses. For more information, please visit www.phoenixmotorcars.com

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.

For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.

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.

CONTACT:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com

SOURCE: SPI Energy Co., Ltd.