Purpose-built mini EV for food- and last-mile delivery; key sub-assemblies produced in Meizhou, China with final assembly in Anaheim, California; pilot deliveries scheduled for Q4 2025

ANAHEIM, CA / ACCESS Newswire / July 1, 2025 / Phoenix Motor Inc. (OTC PINK:PEVM), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the launch of the PhoenixEV MEV2/LSV, a California-assembled, low-speed electric mini car/van engineered specifically for gig-economy food delivery providers such as Uber Eats, DoorDash and Instacart, as well as broader last-mile logistics operators.

The MEV2/LSV forms the cornerstone of Phoenix's new Fleet-as-a-Service (FaaS) offering, combining vehicle leasing, charging, maintenance and telematics into a single subscription designed to lower total cost of ownership for fleet operators.

"With the MEV2/LSV we are combining affordable electrification with U.S. final assembly, giving delivery fleets a sustainable, right-sized solution that can be deployed quickly and serviced locally," said Denton Peng, CEO of Phoenix Motor Inc. "This platform also paves the way for our ongoing autonomous-driving development roadmap, ultimately enabling driver-optional operation for selected applications."

Built for dense urban routes

• Class / speed: Neighborhood Electric Vehicle (NEV) / Low-Speed Vehicle compliant, electronically limited to 25 mph-ideal for campus, community and downtown zones

• Range & power: 15 kWh battery pack delivers up to 120 miles of real-world range per charge; DC fast-charging function available

• Customization: Standard colors-red, blue, orange and green-with special-order palettes and wrap-ready panels

• Digital-first commerce: Vehicles may be purchased in U.S. dollars or leading cryptocurrencies (BTC, USDT and USDC) via Phoenix's secure payment portal

Global Manufacturing, Local Assembly

High-value components-including battery modules, body stampings and e-axles-will be produced at Phoenix's Mengzhou, China facility, leveraging the Company's recently expanded Asian manufacturing footprint. Final assembly, quality assurance and pre-delivery customization will take place at Phoenix's Anaheim, California plant, allowing the MEV2/LSV to meet U.S. content and final-assembly requirements while supporting local job creation. Customer deliveries are slated to begin in Q4 2025, with production pilots starting earlier that quarter.

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, "Phoenix", 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.

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.