PEV - Phoenix Motorcars and Pegasus specialty vehicles partners for Type A electric school buses

• Phoenix Motor ( NASDAQ: PEV ) announced the formation of a strategic partnership to jointly develop Type A electric school buses, targeted for the North American market.
• “We are delighted to have formed this partnership with a company of Pegasus’ caliber to support the execution of Phoenix’s next stage of growth,” Dr. Lance Zhou, Phoenix Motorcars CEO, commented. “Our collaboration with Pegasus is another component of our 'asset light' business model, enabling us to bring our Gen 4 vehicles to market in an efficient, cost-effective manner, while exceeding the highest standards of quality. We should see increasing demand for school bus electrification in the years ahead as the adoption of zero emission buses continues to grow.”

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