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Phoenix Motorcars Announces Award of California Dept of General Services Contract for Zero Emission Battery Electric Type A with Cutaway Chassis School Buses

ANAHEIM, Calif.– Phoenix Motor Inc. (Nasdaq: PEV) (“Company” or “Phoenix”), a leading electrification solutions provider for medium-duty vehicles, today announced the Company’s award of a contract by the California Department of General Services (“DGS”), enabling school districts to procure and purchase Phoenix Motorcars’ Z600 zero emission Type A with a Cutaway Chassis school buses.

This awarded contract will be valid for two (2) years with an option to extend it to three (3) years. This DGS contract will give any school district in California the ability to purchase zero emission school buses quickly and easily at a competitive price, without having to go through a bid process.

“Phoenix is excited about its positive momentum in the electric school bus market,” said Denton Peng, CEO of Phoenix Motorcars. “This contract award will allow California schools to purchase our Type A with a Cutaway Chassis school buses easily and start cleaning the air quality for their students and communities.”

Phoenix Motorcars is the sole awardee in the category of Zero Emission Type A with a Cutaway Chassis school buses. Phoenix’s Z600 school bus is offered with both 90kWh as well as 141kWh battery pack options and can be purchased with or without an ADA-compliant wheelchair lift.

“Phoenix is thrilled with this contract award in our home state of California,” said Thomas Allen, Vice President of Sales, and Marketing. “With this contract, we can help schools of all sizes start electrifying their fleets and bring clean school buses into their districts while avoiding the cumbersome process of bidding for each procurement. This is a major step forward for California school districts and a testament to California’s commitment to lowering emissions statewide, especially for the sake of healthy children, students, faculty, and the surrounding communities of our education system.”

This contract comes at an opportune time for zero emission school bus funding, with the California HVIP Program still open and currently offering a standard incentive voucher for $99,000 for the Phoenix Z600, and up to $310,000 for eligible districts with the HVIP school bus set aside. Another available funding source which is open is the EPA’s Clean School Bus Rebate Program which currently offers $145,000 to $265,000 per Type A with a Cutaway Chassis school bus. Both programs were incorporated into the structure of the California DGS Contract, and Phoenix Motorcars is eligible and qualified to work with both HVIP and EPA programs.

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. To learn more, please visit: www.phoenixmotorcars.com.

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