Phoenix Motor Inc. Announces Second Quarter 2022 Financial Results Schedule and Conference Call

ANAHEIM, Calif.–(BUSINESS WIRE)–Phoenix Motor Inc. (Nasdaq: PEV) (“Company” or “Phoenix Motorcars”), a leading manufacturer of all-electric mid-duty vehicles, today announced that it will report results for the second quarter of 2022 after market close on Monday, August 15, 2022. This release will be followed by an investor conference call at 5:00 p.m. Eastern Time the same day.

The conference call will include remarks prepared by Dr. Lance Zhou, Chief Executive Officer, Chris Wang, Chief Financial Officer, and Mark Hastings, Senior Vice President and Head of Investor Relations. The call can be accessed via the information below:

Event: Phoenix Motorcars Q2 2022 Financial Results Conference Call

Date: Monday, August 15, 2022

Time: 5:00 p.m. Eastern Time

Live call: +1-888-660-6373 (US toll-free) or +1-929-203-1975 (international)

Conf. IDENTIFIER: 3457210

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle (“EV”) industry, through its wholly owned subsidiaries, designs, assembles and integrates electric drive systems and light and medium electric vehicles, and markets and sells electric vehicle chargers for commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars“focused on commercial products, including medium-duty electric vehicles, chargers and electric forklifts, and”EdisonFuturewhich intends to offer lightweight EVs. As a pioneer in electric vehicles, the company delivered its first commercial electric vehicle in 2014 and deployed the first-ever zero-emission airport shuttle at Los Angeles International Airport (“LAX”); LAX’s fleet has grown to 39 electric shuttles, one of the largest of its kind. Los Angeles Air Force Base in El Segundo and NASA’s Jet Propulsion Laboratory in Pasadena, Calif., are among the customers of the company’s first-generation E-Series Zeus electric vehicles. Phoenix intends to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com and www.edisonfuture.com.

Forward-looking statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements other than statements of historical fact. Where the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate” or similar expressions that do not relate solely to historical matters, it makes forward-looking statements. There can be no assurance that the net proceeds of the Offering will be used as stated. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations described in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company’s ability to convert concept trucks and vans into production and sales; the Company’s product development schedule and expected start of production; the development of competitive trucks and vans manufactured and sold by the Company’s competitors and the industry’s leading vehicle manufacturers; the Company’s ability to scale profitably; the Company’s future capital requirements and sources and uses of cash; the Company’s ability to obtain financing for its future operations; the Company’s financial and business performance; changes in the Company’s strategy, future operations, financial condition, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of its business model; expectations regarding the Company’s ability to obtain and maintain intellectual property protection and not infringe the rights of others; and other risks contained in the offering prospectus and the reports filed by the Company with the SEC. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the SEC, including those set forth in the Risk Factors section of the Company’s registration statement and offering prospectus, which may be viewed at www. sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.

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