Phoenix Motor Forms New Global Subsidiary To Target EV Markets

Phoenix Motor Inc. PEV has announced the establishment of EdisonFuture International Co., Ltd., a fully-owned subsidiary located in Hong Kong.

EdisonFuture will enable Phoenix Motor to expand globally by leveraging international supply chains, financial assets, and marketing strategies to strengthen its worldwide presence.

The entity will play a key role in enabling Phoenix Motor to enter important international markets such as the Caribbean, South America, Europe, and Asia, aligning with its long-term expansion goals.

“The formation of EdisonFuture International marks a significant milestone for Phoenix Motor as we extend our footprint beyond the U.S. and tap into the rapidly growing global EV market,” said CEO Denton Peng.

“By establishing operations in Hong Kong, a key gateway to international business, we will optimize supply chain efficiencies, strengthen financial partnerships, and accelerate market penetration in high-growth regions.”

Also Read: Tesla Files Fresh Lawsuit Against Matthews After Court Defeat

The subsidiary will first focus on leveraging Asian supply chain networks to drive its international market expansion.

The objective is to provide Phoenix Motor’s eco-friendly and dependable electric solutions to fleets, logistics firms, and local governments seeking zero-emission transportation alternatives.

By collaborating with international partners, the company seeks to introduce EV solutions to a broader audience, enhancing product offerings and driving the global adoption of zero-emission vehicles.

Phoenix Motor's current brands, “PhoenixEV” and “EdisonFuture,” primarily serve the U.S. market with their selection of medium and heavy-duty commercial EVs, as well as light-duty EVs.

Price Action: PEV shares are trading lower by 14.5% at $0.3399 at the last check Tuesday.

Read Next:

• Coca-Cola, PepsiCo Adjust DEI Policies Following Trump Executive Order: Report

Photo via Shutterstock.