ANAHEIM, CA / ACCESS Newswire / April 8, 2025 / Phoenix Motor Inc. dba PhoenixEV (NASDAQ: PEV), a leading manufacturer of all-electric, medium-duty vehicles, today announced a strategic partnership with ADASTEC Corp., a leading software company specializing in SAE Level-4 automated driving software solutions. Together, the companies will develop and deploy 40-foot battery-electric buses equipped with Level 4 automated driving capabilities, offering a powerful solution to meet the evolving demands of modern public transit.

As cities and transit agencies across North America seek to reduce emissions and increase operational efficiency, interest in both electrification and autonomy has surged. This partnership brings together PhoenixEV's proven expertise in zero-emission vehicle manufacturing offering Buy America compliant 35' and 40' battery electric buses with ADASTEC's enhanced SAE Level-4 automated driving software platform, flowride.ai, delivering automated, shared, and connected mobility solutions that are commercially available.

"At Phoenix, we're focused on delivering sustainable, intelligent transportation solutions that go beyond just electrification," said Denton Peng, CEO of Phoenix Motor Inc. "By partnering with ADASTEC, we're taking a significant leap forward-bringing Level-4 automated technology to our zero-emission platforms. This positions us at the forefront of the future of transit and supports our customers in their goals for cleaner, safer, and more efficient mobility."

The jointly developed 40-foot electric buses will be designed for transit agencies, universities, and municipal operators looking to demonstrate and deploy automated vehicles in real-world applications. With advanced perception, mapping, and decision-making capabilities, the buses will offer driverless operation in designated environments, helping to address labor shortages while improving service reliability.

"PhoenixEV's Buy America compliant electric buses align perfectly with our SAE Level-4 automated driving platform," said Dr. Ali Peker, CEO of ADASTEC. "We see this partnership as a strategic step to further expand automated public transit in the United States, building on the real-world experience we have gained through multiple deployments across North America and Europe. By combining PhoenixEV's manufacturing strength with our proven automated driving software platform, we deliver a commercially available, accessible, and connected mobility solution that meets today's transportation needs while shaping a smarter and more inclusive future for public transit."

The first vehicle in this pioneering collaboration is set to debut later this year, representing a new generation of electric and automated public transportation solutions. Demonstration pilots are anticipated in early 2026, with several forward-thinking transit agencies preparing to lead this transformation.

About Phoenix Motor Inc.

Phoenix Motor, a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and manufactures heavy duty transit buses and medium and light duty commercial EVs. Phoenix operates two primary brands, "PhoenixEV", which is focused on commercial products including heavy and medium duty EVs (transit buses, shuttle buses, school buses and delivery trucks, among others) 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: phoenixev.ai.

About ADASTEC Corp.‍

Established in 2018, ADASTEC Corp is a leading US-based provider of Level-4 automation solutions for buses. ADASTEC's flagship product, the SAE Level-4 automated driving platform, flowride.ai, sets the standard in full-size bus automation with its advanced capabilities. ADASTEC has achieved key regulatory approvals, distinguishing ADASTEC as an industry pioneer. With a commitment to quality and innovation, ADASTEC holds prestigious ISO certifications and is headquartered in East Lansing, Michigan, USA, with a global presence in Turkiye and The Netherlands. ADASTEC is dedicated to transforming public transportation into a more sustainable and efficient system with a proven track record of international deployments and strong industry partnerships. ADASTEC's expertise in delivering factory-fitted full-size bus automation and integration into public transport systems underscores our commitment to providing scalable, cost-effective, and safety-focused solutions to meet the evolving needs of modern cities. For more information, please visit www.adastec.com or contact: press@adastec.com.

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 risk factors include, among others, those related to our ability to raise additional capital necessary to grow our business, operations and business and financial performance, our ability to grow demand for our products and revenue, our ability to become profitable, our ability to have access to an adequate supply of parts and materials and other critical components for our vehicles on the timeline we expect, 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 10-K 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: IR@phoenixev.ai

Dave Gentry, CEO RedChip Companies, Inc.1-407-644-4256 PEV@redchip.com

SOURCE: Phoenix Motor Inc.