The positive premarket price action of PEV shares is directly linked to the company's announcement of expected revenue growth for Q1 FY24, which represents a significant increase from the previous year. This growth is attributed to strategic initiatives such as the acquisition of Proterra's transit business and the launch of new products tailored to the commercial transportation sector. Additionally, the company's focus on electric vehicles and sustainable transportation, supported by government policies, and its plans for an AI development center and partnership with InductEV for wireless charging technology, further bolster investor confidence in its growth trajectory.