Phoenix Motor Provided Its Initial Guidance Incorporating The Recently-Acquired Proterra Transit Business Line, Expecting To Deliver More Than 100 Transit Buses In 2024 And Generate Revenues Over $100M
Portfolio Pulse from Benzinga Newsdesk
Phoenix Motor Inc. has provided initial guidance following the acquisition of Proterra's Transit business line. The company anticipates delivering over 100 transit buses in 2024 and expects to generate revenues exceeding $100 million.
January 18, 2024 | 12:04 pm
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Phoenix Motor Inc. expects to deliver over 100 transit buses in 2024 and generate revenues over $100M, following the acquisition of Proterra Transit.
The guidance provided by Phoenix Motor Inc. is a positive signal for investors, indicating expected growth in product delivery and revenue generation. The acquisition of Proterra Transit is likely to be viewed as a strategic move to expand the company's market share in the electric transit bus sector, which could lead to increased investor confidence and a potential rise in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100