SPI - SPI Energy's Phoenix Motor secures long-term supply deal with Coulomb Solutions

SPI Energy's (NASDAQ:SPI) subsidiary, Phoenix Motorcars, signed a long-term supply agreement with Coulomb Solutions for the supply of lithium iron phosphate ('LFP') battery systems. Coulomb Solutions is a North American distributor of Contemporary Amperex Technology Co., Limited ('CATL') Commercial Vehicle Battery Systems. CATL is a global leader in lithium-ion battery development and manufacturing. Delivery of the LFP battery systems will begin in the first quarter of 2022. Denton Xiaofeng Peng, Chairman & CEO of SPI Energy. "This two-year agreement for CATL commercial battery systems from CSI will enable us to meet the growing demand for our commercial EVs in the US market. Having a regular and reliable supply of battery deliveries secured through 2023 places us in a great position to accelerate growth." Shares of SPI +4% premarket.

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SPI Energy's Phoenix Motor secures long-term supply deal with Coulomb Solutions