SPI Energy's Stock Shoots Higher After Phoenix Motorcars Initiates Production of 3rd-Gen Drivetrain Products

SPI Energy Co Ltd SPI group company, Phoenix Motorcars, had commenced production of its first third-generation drivetrain products. The first three units were completed out of the Ontario facility recently, ready for delivery.
Phoenix launched its first electric drivetrain in 2009 and sold its first commercial electric vehicle (EV) in 2014. The shuttles and trucks were built on the Ford Motor Co F E-450 platform.
The third-generation service includes shuttle buses, service trucks, utility trucks, flatbed trucks, cargo trucks, and delivery options. The new liquid-cooled modular battery pack is available in 63, 94, 125, and 156kWh configurations.
Price action: SPI shares traded higher by 56.3% at $9.744 in the premarket session on the last check Wednesday.