Phoenix Motor Announces $6 Million Loan Financing Agreement to Support Expansion and Production Growth
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Phoenix Motor Inc. has secured a $6 million loan financing agreement with J.J. Astor & Co. to support its expansion and production growth, particularly for electric transit buses.
March 19, 2025 | 10:45 am
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Phoenix Motor Inc. has secured a $6 million loan to support its expansion and production growth, particularly for electric transit buses. This financial boost is likely to enhance the company's operational capacity and fulfill pending orders.
The $6 million loan will enable Phoenix Motor to expand its operations and increase production, which is crucial for fulfilling pending orders. This financial support is likely to positively impact the company's growth prospects and stock price in the short term.
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