Phoenix Motorcars Launches Electric Retrofit Solutions for Commercial Vehicles
Portfolio Pulse from Benzinga Newsdesk
Phoenix Motor Inc. (NASDAQ:PEV) has launched its Gen 4 retrofit electrification solution for medium-duty vehicles. The solution can be used to electrify a range of current internal combustion engine vehicles. The retrofit solutions aim to alleviate the cost of new EVs and long lead times due to limited availability, allowing fleets to electrify their existing assets, lower capital requirements, and reduce the time to deploy zero-emission alternatives.
October 04, 2023 | 11:05 am
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Phoenix Motor Inc.'s launch of its Gen 4 retrofit electrification solution could potentially increase its market share in the EV sector by providing a cost-effective and timely solution for fleets to transition to electric.
The launch of Phoenix Motor Inc.'s Gen 4 retrofit electrification solution is directly relevant to the company and its stock. The solution addresses key challenges in the EV transition, potentially increasing the company's attractiveness to fleet operators and thus potentially boosting its market share and stock price.
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