SPI Energy’s Phoenix Motorcars Surpasses 2.75 Million All-Electric Mile Milestone for its Vehicles

ONTARIO, CA / ACCESSWIRE / June 22, 2021 / SPI Energy Ltd. (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced its wholly owned Phoenix Motorcars subsidiary recently exceeded the 2.75 million electric mile mark, counting all its fully electric trucks and shuttle buses in operation. This includes its first-, second- and third-generation products that have been driven across a wide variety of end-use applications.

Phoenix Motorcars launched its first medium-duty electric drivetrain in 2009 and sold its first commercial EV in 2014. Phoenix Motorcars shuttle buses and trucks are built on the Ford E-450 cutaway chassis platform and have vastly improved in capability over generational cycles. Phoenix is currently in production of its recently developed third-generation drivetrain, which includes the largest battery pack and longest electric range for any class 4 product on the market, offering up to 160 miles in range. The current generation drivetrain allows for a variety of battery pack options which offer customers flexibility on pricing and configuration. The latest technology also offers the largest variety of cutaway bodies including service trucks, utility trucks, flatbed trucks, cargo trucks, walk-in vans, shuttle buses, and school buses.

To date, Phoenix Motorcars has partnered to support sustainability and clean transportation objectives, meeting the needs of medium-duty fleet customers of all sizes, including utilities, cities, municipalities, transit agencies, airports, seaports, school districts, parking companies, universities, and corporate campuses. Phoenix Motorcars has served over 45 fleet customers with a variety of needs, providing customized products to complete essential business functions.

"With this announcement, Phoenix Motorcars is adding to its history of innovation and offering practical electric vehicle to meet the specific demands of its partners," commented Joe Mitchell, CEO of Phoenix Motorcars. "Our expanding autonomous technology capabilities, in a partnership with EasyMile, as well as the launch of additional product offerings in the near future, ensures we will continue on our path of innovation."

About Phoenix Motorcars
Phoenix Motorcars is a leader in developing medium-duty electric vehicles for commercial markets with a primary focus on class 3 & 4 vehicles, and EV charging solutions. Phoenix Motorcars strives to provide fleets with clean transportation and renewable energy through advanced technology solutions and remains committed to excellence in electric vehicle innovation. Phoenix Motorcars offers a range of vehicle configurations, including shuttle buses, utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks and school buses, and full range of residential and commercial EV charging solutions. For more information, please visit www.phoenixmotorcars.com.

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.

For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.

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 factors include, among others, 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 20-F 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.

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Dave Gentry
RedChip Companies, Inc.
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SOURCE: SPI Energy Co., Ltd.