Jun. 30 at 10:09 AM
$PEV Phoenix Motor to expand manufacturing capabilities in Henan Province
Phoenix Motor announced a significant expansion of its global manufacturing capabilities through a newly signed agreement to utilize over 1.6M square feet of existing EV production facilities in Henan Province, China-rent-free for an initial 10-year term. The company will begin producing electric vehicles for the Latin American and other international markets at this location, while also in-sourcing selected EV component manufacturing to support U.S. operations. This strategic move increases Phoenix's total global manufacturing footprint to nearly 2M square feet.
The expanded footprint will support manufacturing and assembly of Phoenix's EdisonFuture-branded EVs-including EF2, EF3, MEV1, MEV2, and MEV3 models-tailored for international markets. In addition to manufacturing vehicles destined for Latin America and other overseas markets, the facility will also serve as a production hub for selected EV components destined for Phoenix's U.S. operations-supporting its facilities in Anaheim, California and Greenville, South Carolina.
This expansion is expected to significantly enhance Phoenix's production capacity and operational efficiency while reducing time-to-market for key international offerings.
