8-K
PHOENIX MOTOR INC. (PEVM)
8-K
2023-08-03
For: 2023-08-02
View Original
Added on
April 06, 2026
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 2, 2023
Date of Report (Date of earliest event reported)
Phoenix Motor Inc.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 001-41414 | 85-4319789 |
|---|---|---|
| (State or other jurisdiction of<br><br> incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 1500 Lakeview Loop<br><br> <br>Anaheim, CA | 92807 | |
| --- | --- | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code:
(909) 987-0815
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act |
|---|---|
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
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| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.0004 per share | PEV | NASDAQ Capital Market |
| x | Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |
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| ¨ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | |
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Item7.01 Regulation FD Disclosure.
An updated version of an investor presentation of Phoenix Motor Inc., a Delaware corporation (the “Company”), is attached as Exhibit 99.1 to this Current Report on Form 8-K. The presentation will be accessible online through the Investor Relations section of the Company’s website, located at https://phoenixmotorcars.com, under the heading “Events and Presentations.” The information on the Company’s website is not a part of this Current Report on Form 8-K.
The information in this Item 7.01, including Exhibit 99.1 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information contained in this Item 7.01, including Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. |
|---|---|
| Exhibit No. | Description |
| --- | --- |
| 99.1 | Investor Presentation dated August 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PHOENIX MOTOR INC. | ||
|---|---|---|
| Dated: August 3, 2023 | ||
| By: | /s/ Chris Wang | |
| Name: Chris Wang | ||
| Title: Chief Financial Officer |
Exhibit 99.1
| Phoenix Motor Inc<br>Investor Presentation, August 2023 | |
|---|---|
| DISCLAIMER& SAFE HARBOR STATEMENT<br>This presentation (together with oral statements made in connection herewith, this “Presentation”) is for informational purposes only. This Presentation shall not constitute an offer to sell, or the solicitation of<br>an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful. No representations or warranties, express or implied<br>are given in, or in respect of, this Presentation. Although all information and opinions expressed in this Presentation, including industry and market data obtained from third-party industry publications and<br>sources as well as from research reports prepared for other purposes, were obtained from sources believed to be reliable and are included in good faith, Phoenix Motor Inc. (“Phoenix”) has not independently<br>verified the information obtained from these sources and cannot assure you of the information’s accuracy or completeness. This information is subject to change. Some data are also based on the good faith<br>estimates of Alliance, which are derived from their respective views of internal sources as well as the independent sources described above.<br>Nothing herein should be construed as legal, financial, tax or other advice. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning the opportunity described<br>herein. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. Nothing contained<br>herein shall be deemed a recommendation to any party to enter into any transaction or take any course of action.<br>Forward Looking Statements<br>This presentation contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals,<br>strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,”<br> “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are no<br>guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These<br>statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to convert concept trucks and vans into production and sales; the Company’s product<br>development timeline and expected start of production; development of competitive trucks and vans manufactured and sold by the Company’s competitors and major industry vehicle companies; the<br>Company’s ability to scale in a cost-effective manner; the Company’s future capital requirements and sources and uses of cash; the Company’s ability to obtain funding for its future operations; the Company’s<br>financial and business performance; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market<br>acceptance and success of its business model; expectations regarding the Company’s ability to obtain and maintain intellectual property protection and not infringe on the rights of others; and other risks<br>contained in the Offering prospectus and reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements<br>in this press release. Additional risk factors are discussed in the Company’s filings with the SEC, including those set forth in the Risk Factors section of the Company's annual report for 2022 on Form 10-K, our<br>quarterly reports on Form 10-Q and our periodic reports on Form 8-K, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements<br>to reflect events or circumstances that arise after the date hereof.<br>This presentation speaks as of August 2023, and does not reflect any subsequent events. The information presented or contained in this presentation is subject to change without notice. Neither the delivery of<br>this presentation nor any further discussions of the Company, any of its affiliates, shareholders, directors, employees, agents, advisors, representatives or the underwriters with any of the recipients shall, under<br>any circumstances, create any implication that there has been no change in the affairs of the Company since that date.<br>Trademarks<br>This Presentation contains trademarks, service marks, trade names, and copyrights of Phoenix, and other companies, which are the property of their respective owners. The use or display of third parties’<br>trademarks, service marks, trade name or products in this Presentation is not intended to, and does not imply, a relationship with Alliance, or an endorsement of sponsorship by or of Alliance. Solely for<br>convenience, the trademarks, service marks and trade names referred to in this Presentation may appear with the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that<br>Phoenix will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names.<br>Phoenix Motor Inc. | Page 2 |
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| TWO BRANDS<br> • Established in 2003, approaching 20 years of EV experience<br> • 50+ customers and over 100 vehicles deployed<br> • Over 4 million miles on the road<br>COMMERCIAL VEHICLES LIGHT DUTY VEHICLES<br> • Company launched in 2020 - Pickup Truck and Delivery Vans<br> • Pickup Truck and Delivery Vans show-cars debuted at the<br>2021 Los Angeles Auto Show<br>ENGINEERING Currently developing 4th Gen Powertrain and<br>Ground-Up Chassis<br>Executive Summary: Who We Are<br>INTELLIGENT<br>Utilizing latest technologies in software and<br>hardware to enhance driving experience and<br>productivity<br>GROWTH Four key Revenue Streams in<br>High Growth Markets<br>Commercial EV Consumer EV Electric<br>Forklift<br>EV Charing Solutions<br>Phoenix Motor Inc. | Page 3 |
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| Phoenix Motor Inc. | Page 4<br>Where Do We Want To Be<br>SHUTTLE BUSES<br>SCHOOL BUSES<br>WORK TRUCKS<br>CITY DELIVERY<br>LAST MILE DELIVERY<br>PICKUP TRUCKS<br>To Be An Industry Leader in Sustainable Transportation<br>with Focus on Developing<br> • Intelligent<br> • Energy Efficient<br> • Innovative Design |
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| Phoenix Motor Inc. | Page 5<br>Investment Highlights<br>The company has a stable and loyal customer network<br>The company has a unique scalable and asset-light business model<br>The company has a devoted and innovative management team<br>The company has patent applied for technologies in new generation of pickup & delivery vans<br>1 The company is well-positioned in the fast-growing commercial electric bus and delivery truck segment<br>3<br>5<br>6<br>2 The company has a long history of making and delivering completed products<br>4 |
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| Phoenix Motor Inc. | Page 6<br>We are an Industry Pioneer Developing Consumer and Commercial EVs<br>2003<br>Founded in 2003 in<br>California<br>2007<br>Phoenix all-electric pickup truck<br>showcased to President George W Bush at<br>the White House in February 2007<br>2010<br>Developing cutting edge zero<br>emission drivetrains for<br>medium duty vehicles<br>2015<br>1st all-electric bus to be<br>deployed at NASA’s Jet<br>Propulsion Laboratory<br>2016<br>1st all-electric fleet to be<br>deployed at LAX Wally Park<br>parking complex<br>2018<br>Marketing launch of 2nd gen.<br>High Power Drive System for Ford<br>E-450 chassis<br>2019<br>Deployment of 2nd gen. High Power<br>Drive System with 3 deliveries to<br>Park & Zoom in Austin, TX<br>2020<br>Acquired by SPI Energy Co., Ltd.<br>2021<br> • Introduced Full Range Of EV charging<br>solutions<br> • Launched 3rd generation powertrain<br> • Conceptualized & Introduced<br>prototype of EdisonFuture’s next<br>generation EV pickup truck<br>2022<br>Completed NASDAQ<br>listing via IPO in June<br>2022 |
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| Phoenix Motor Inc. | Page 7<br>We Offer a Comprehensive Product & Service Line<br>We sell products both<br>integrated into<br>complete vehicles<br>and in<br>kit form<br>to other entities<br>Commercial<br>EV<br>Infrastructure<br>Solutions<br>Consumer<br> &<br>Commercial<br>Medium Duty EVs<br>Industry Leading All-Electric Trucks,<br>Shuttle Buses & School Buses<br>Electric Forklifts<br>Affordable, lithium-ion electric forklifts<br>with best-in-class warranty<br>EV Charging<br>Range of residential and commercial EV<br>chargers and network solutions<br>Light Duty Pick-up &<br>Last Mile Platform<br>Cutting Edge intelligent Pick-Up & Urban<br>Delivery Vehicle with Revolutionary Design<br>2023 2024 2025 & Beyond<br>GROUND-UP<br>CHASSIS &<br>PLATFORM<br>SMART<br>WAREHOUSE<br>SOLUTIONS<br>CONNECTED<br>SMART CHARING<br>SOLUTIONS<br>SHOW CAR LAUNCH &<br>COLLECT INITIAL ORDERS<br>ENGINEERING &<br>HOMOLOGATION |
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| Phoenix Motor Inc. | Page 8<br>We Are Focused On our prototype Light Duty Electric Solar Pickup Trucks<br>PICKUP TRUCK Solar Area<br>(m2)<br>Production<br>Hourly(kwh)<br>Pickup truck roof solar<br>panel 1.93 0.31<br>Pickup truck armadillo<br>solar panel 1.95 0.31<br>Dash active solar panel 0.5 0.08<br>Total without<br>armadillo 2.43 0.39<br>Total with armadillo 4.38 0.70<br> • Modern and sophisticated exterior<br> • Retractable Solar Bed Cover, Solar Roof<br> • Interior Solar Mosaic<br> • Foldable front row middle seat and Center Console<br> • Door-Mounted Portable Toolbox<br> • Optimized vehicle size design with 6.5 and 8 feet long bed size option<br> • Ambient LED Lights<br> • 17.5” Infotainment Screen and HUD display<br> • Mirror Camera and Pillar-Mounted Interior Camera Screens<br> • Front and Rear designed hooks on bumpers<br> • 37” Diameter tire with 20” custom wheel<br> • Working Side Step<br> ➢ Patents filed in the US, UK and Europe<br> ➢ Retractable Solar Roof Patent Application No. 29/804.007<br> ➢ Pickup Truck Patent Application No. 29/783.318<br>Solar Charging Power |
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| Innovative Flex Platform<br>Multiple wheelbase and body<br>configurations<br>Phoenix Motor Inc. | Page 9<br>Our prototype Light Duty Electric Solar Vans Have Unique Features<br> • Flexible Configurations including multiple wheelbase and roof height options<br> • Developing Point2Point Autonomous Driving<br> • Spacious cargo area<br> • Side sliding door on both sides<br> • Side retractable running-boards<br> • Roof-integrated solar panels<br>VAN Solar Area (m2)<br>Production<br>Hourly(kwh)<br>Van roof solar panel 4.05 0.65<br>Dash active solar<br>panel 0.5 0.08<br>Total 4.55 0.73<br>Solar Charging Power |
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| Phoenix Motor Inc. | Page 10<br>Our All-electric Medium Duty Vehicles Are Built In the USA<br>Up to 24 Seats Capacity<br>Multiple Seating<br>Configurations:<br> ▪ Perimeter seating<br> ▪ Forward facing seats<br> ▪ ADA wheelchair access<br> ▪ Luggage racks<br> ▪ All accessories available<br>on ICE shuttles<br>ELECTRIC SHUTTLE BUS<br> • Up to 6,000 lbs payload<br> • Multiple body configurations including:<br>Electric chassis, flatbed trucks, box trucks, utility<br>trucks, reefer trucks, service trucks, animal control<br>trucks and various custom bodies<br>ELECTRIC TRUCKS<br> • Vehicle Highlights<br> • Seating capacity up to 25<br>passengers<br> • Variable track seating up<br>to 6 wheelchair positions<br> • Interior and exterior<br>camera system<br> • Integrated child booster<br>seats<br> • WIFI for passengers<br>ELECTRIC TYPE A SCHOOL BUS<br>Wide range of customers across airport parking,<br>hotels, campuses, cities, municipalities, ports,<br>micro-transit services and dial-a-ride applications<br>4,000,000+<br>Miles Driven<br>50+<br>Commercial Fleet Customers<br>130+<br>Shuttle Buses & Trucks Deployed |
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| Phoenix Motor Inc. | Page 11<br>We Make and Develop Medium Duty EV’s<br>2014<br>2019<br>2021<br>2023<br>2024<br>GROUND-UP DESIGN<br>Purpose built EV chassis &<br>vehicles for Class 3 – 6<br>medium-duty segment<br>GEN-4<br>Significant Cost<br>Efficiencies Supporting<br>Volume Growth<br>GEN-3<br>Modular Battery Packs<br>with Liquid Cooling –<br>Up to 160 mile range<br>GEN-1<br>Electric Drivetrain<br>Mated to Conventional<br>Chassis & Gear Box<br>GEN-2<br>Electric Drivetrain On<br>Conventional Chassis<br>with Direct Drive<br>NEW VEHICLES & RETROFIT SOLUTIONS FOR FLEETS |
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| Phoenix Motor Inc. | Page 12<br>We Offer One Stop Shop Solution: EV Charging<br>Offering a one-stop-solution to<br>customers while leveraging<br>relationships with existing EV<br>customers<br>Targeting both commercial and<br>consumer customers<br>Cooperating with leading<br>Electric vehicle supply<br>equipment & charging<br>technology suppliers<br>L2 EV Chargers<br>(AC Charging)<br>DC Fast Charger<br>(DC Charging)<br>SaaS<br>Cloud Based Platform<br>ChaaS<br>Charging-as-a-Service<br>Maintenance &<br>Aftersales<br>Support<br>Proactive<br>Monitoring for<br>Customers<br>Range of Products & Services<br>INFRASTRUCTURE BILL<br>Federal Govt. plans to support<br>deployment of 500,000 EV<br>chargers across the nation |
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| Phoenix Motor Inc. | Page 13<br>The Key to Our Success: Asset Light Production Model and Process<br>Maximize Current Capacity<br>Maximize output at current Anaheim, CA<br>location through process optimization<br>Leverage Other Facilities<br>Leverage other facilities to increase output<br>capacity through 2022 and beyond<br>With focus upfront on the manufacturing<br>process, this allows for the utilization of<br>existing facilities and capacities<br>Expanding our cooperations with<br>established OEMs and assembly facilities<br>This strategy for production provides the company with flexibility for capacity alignment with<br>demand, lean manufacturing, and a capital light approach that optimizes investments |
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| Phoenix Motor Inc. | Page 14<br>Our Ground Up Medium Duty Electric Chassis Under Development – Improved Cost,<br>Efficiency, Performance and Manufacturing Volumes - Enable Mass Adoption<br>MODULAR ENERGY ON DEMAND<br> ▪ Base battery + Modular Extender Battery<br> ▪ Fuel Cell range extender – Post launch<br>CHARGING DIVERSITY<br> ▪ Level 2<br> ▪ Level 3 CCS<br> ▪ Wireless Charging<br> ▪ V2G capability<br>EFFICIENT BY DESIGN<br> ▪ Class3to 6–focusclass4/5<br> ▪ Hi-efficiencyELECTRIC<br> ▪ Low Floor–ergonomics and productivity<br> ▪ Light-weight materials<br> ▪ Leading payload to curb weight<br> ▪ ModularChassis–front/rear drive,range of<br>wheelbase/GVW<br> ▪ Long Lifedesign<br>BEING DEVELOPED WITH<br>INDUSTRY EXPERTS<br> ▪ Addressing the demands of fleets and varied body styles<br>includes shuttles, work trucks, delivery trucks and RVs<br>SMALL MANUFACTURING<br>FOOTPRINT<br> ▪ Primarily assembly<br> ▪ Single piece flow – variants on common line<br> ▪ Composite panels – minimal onsite welding and<br>paint<br>ADAS* AND CONNECTED CONTROLS<br> ▪ Advanced Phoenix Connect telematics: Route<br>planning, charging and fleet optimization<br> ▪ Drive and steer by wire – ADAS and<br>expandable automation<br> ▪ Over-the-air updates and controls<br>* Advanced driver assistance systems |
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| Phoenix Motor Inc. | Page 15<br>Professional Management Team with Cross-industry Experience<br>Chris Wang<br>CFO<br>20+ years of leadership experience. Previous<br>CEO of Redwood Group Int’l, partner with SAIF<br>Xinhuihuang Asset Management and former<br>President and CFO of Fushi Copperweld, Inc.<br>MBA from Univ of Rochester and BSc from<br>Univ of Science and Technology Beijing.<br>Denton Peng<br>CEO<br>20+ years of experience in solar, battery<br>storage, EV and EV charging. Pioneer &<br>Entrepreneur in renewable energy industry<br>who has led several NYSE & NASDAQ-listed<br>public companies. MBA from Beijing University<br>Guanghua School of Management.<br>Jose Paul<br>CRO<br>Over 19 years of automotive and<br>transportation industry experience including<br>senior roles at FedEx, Dubai and Frost &<br>Sullivan. MBA Cochin University of Science &<br>Technology and BS from Christ College,<br>Bangalore University.<br>Josh Selin<br>VP Global Service<br>15 years of H/EV technology experience.<br>Previously was a project manager at New Flyer<br>for electric drive systems and ultracapacitor<br>development for critical planned upgrades, and<br>service modifications.<br>Dr. Joseph Chiang<br>VP Software<br>35 years of engineering experience. Previously<br>serving at Johnson Electric, Ford and Visteon. PhD<br>in EE from the Univ of Kentucky, MSEE & BSEE<br>from Huazhong University of Science & Tech.<br>Thomas Allen<br>VP Sales<br>Over 10+ years experience in the electric<br>vehicle and electric distribution sectors,<br>successfully leading the sales department to<br>record growth and expansion.<br>Dr. Frank Lee<br>CTO<br>30+ years vehicle development experience.<br>Recently VP of vehicle integration at Karma.<br>Prior senior positions at BYD, Beiben, Geely,<br>Hybride Kinetic, General Motors and Ford.<br>PhD from Ohio State in Engineering<br>Mechanics, MS & BS in Mechanics from<br>Houzhong Univ of Science & Technology.<br>Mark Hastings<br>SVP of Corporate Development &<br>Strategy/Head of Investor Relations<br>30+ years experience on Wall Street on the sell side<br>and buy side within the energy, automotive and fintech<br>sectors. MBA in Finance from the University of<br>Tennessee, BA in Economics from the University of<br>Virginia.<br>Lewis Liu<br>SVP of Operations<br>30+ years experience in electric vehicles, EV<br>infrastructure & eMobility. Former VP of Business<br>Development & Strategy at Karma. Previous senior<br>positions at AiKar, Faraday Future and KPMG. MBA<br>University of Chicago, MS in AI University of MS and<br>BS in Comp Science Beijing Polytechnic. |
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| Phoenix Motor Inc. | Page 16<br>Financial Highlights<br>3,990<br>4,509<br>2,977<br>4,330<br> -<br> 1,000<br> 2,000<br> 3,000<br> 4,000<br> 5,000<br>2019 2020 2021 2022<br>Net Revenue ($ thousand)<br>(298)<br>(421)<br>(563)<br>(820)<br> (1,000)<br> (800)<br> (600)<br> (400)<br> (200)<br> -<br>2019 2020 2021 2022<br>Gross Loss ($ thousand)<br>(5,973)<br>(4,665)<br>(14,614)<br>(12,705)<br> (16,000)<br> (12,000)<br> (8,000)<br> (4,000)<br> -<br>2019 2020 2021 2022<br>Net Loss ($ thousand)<br>5,552<br>19,249<br>6,637 7,721<br> -<br> 5,000<br> 10,000<br> 15,000<br> 20,000<br> 25,000<br>2019 2020 2021 2022<br>Total Current Assets ($ thousand)<br>8,955<br>29,227<br>15,436<br>20,443<br> -<br> 5,000<br> 10,000<br> 15,000<br> 20,000<br> 25,000<br> 30,000<br> 35,000<br>2019 2020 2021 2022<br>Total Assets ($ thousand)<br>20,592<br>4,437 5,199<br>8,161<br> -<br> 5,000<br> 10,000<br> 15,000<br> 20,000<br> 25,000<br>2019 2020 2021 2022<br>Total Liabilities ($ thousand) |
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| Phoenix Motor Inc. | Page 17<br>Our Strong Backlog Orders Enhance Our Earnings Visibility<br>Current customers for our line of zero-emission shuttle buses, school buses and trucks<br>Customer Base<br>Major Airports Airport Parking Hotel Chains School Districts Universities Municipalities Corporations<br>78 ORDERS<br>78 Backlog Orders as of<br>June 30, 2023<br>75 VEHICLES<br>Contained in the<br>Backlog Orders<br>3 KITS<br>Electric Drive System<br>Kits Contained in the<br>Backlog Orders<br>$17.5M REV.<br>The Vehicle Order<br>Backlog Represents $17.5<br>Million of Revenue |
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| Phoenix Motor Inc. | Page 18<br>Investment Recap<br>The company has a stable and loyal customer network<br>The company has a unique scalable and asset-light business model<br>The company has a devoted and innovative management team<br>The company has patent applied for technologies in new generation of pickup & delivery vans<br>1 The company is well-positioned in the fast-growing commercial electric bus and delivery truck segment<br>3<br>5<br>6<br>2 The company has a long history of making and delivering completed products to total satisfaction of customers<br>4 |
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| Mark Hastings<br>Senior Vice President of Corporate<br>Development & Strategy<br>Head of Investor Relations<br>markh@phoenixmotorcars.com<br>Chris Wang<br>CFO<br>chrisw@phoenixmotorcars.com<br>Denton Peng<br>CEO<br>denton.peng@spigroups.com<br>phoenixmotorcars.com edisonfuture.com<br>Phoenix Motor Inc. | Page 19 |
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| Appendix<br>Phoenix Motor Inc. | Page 20 |
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| Phoenix Medium Duty Vehicles: Gen 4<br>1. Asset Light Business Model: The “asset light” business model extends both upstream to suppliers and downstream to manufacturing partners:<br> • Upstream – we leverage our strategic partnerships with R&D partners and engineering service suppliers.<br> • Downstream – we partner with customers and third parties to establish manufacturing and assembly facilities located in key strategic<br>locations across the U.S.<br>2. Scale: Efficient scaling of production:<br> • Anaheim production facility reconfigured not only to increase production, but also to serve as a training and showcase facility to ensure<br>procedures are standardized across all of our manufacturing and assembly locations.<br> • Utilize customer and third-party assembly facilities to increase production with low capital requirements.<br>3. Battery Supply: Secured dependable supply source:<br> • Benefit from partnership with CATL for long-term strategic supply of K-Packs and related products.<br> • Solved the first major impediment to long-term growth…secure and reliable battery supply.<br>4. Reduced Costs: Gen 4 is expected to achieve lower production and materials costs compared to Gen 3 vehicles, benefiting from:<br> • Standardization of processes and procedures<br> • Use of standardized components and sub-assemblies<br> • Reduction in numbers of parts and components from over 450 in Gen 3 to fewer than 80 in Gen 4<br>5. Retrofit Solution: Gen 4 has allowed for the development of our proprietary retrofit solution:<br> • Enables fleet customers to meet government-mandated zero emissions targets in a quick and cost-effective manner<br> • Provides much lower Total Cost of Ownership for fleet operators versus virtually any other option<br> • Provides the double environmental benefit of both adding a zero-emission vehicle while also removing a gasoline-powered vehicle<br> • Modular nature of our proprietary retrofit solution allows for easy siting in virtually any location around the globe<br>In 2023, we will introduce our 4th Generation drivetrain (Gen 4) vehicles,<br>providing a bridge to the Gen 5 “Ground Up Chassis” design<br>Phoenix Motor Inc. | Page 21 |
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| Recent Strategic Partnerships<br>As a result of Phoenix Executive Management Team’s deep experience & relationships within the EV sphere, the<br>Company has established strategic relationships with many of the leading participants in the global EV industry.<br>CATL (Contemporary Amperex Technology Company)<br> • Long-term partnership for co-development of batteries for Phoenix Motorcars’ product lines, including<br>Gen 4 vehicles and potential cooperation on Gen 5 and EdisonFuture (Gen 6) models in the future<br>IAT Automotive<br> • Partnership for engineering and design work for Phoenix Gen 4 and Gen 5 vehicles<br>Pegasus Specialty Vehicles<br> • Partnership to jointly develop Type A electric school buses, to be marketed in North America<br> • Agreement targets minimum of 300 Type A school buses to be built within the next three years<br>Matthews Specialty Vehicles<br> • Partnership to jointly develop specialty vehicles such as bloodmobiles, bookmobiles, and others<br> • Agreement targets minimum of 150 vehicles over the next three years<br>Fermata Energy<br> • Partnership to test bi-directional charging solutions for Phoenix Motorcars’ EV customers<br>Phoenix Motor Inc. | Page 22 |
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| Phoenix Motor Inc. | Page 23<br>Board of Directors |
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