- Projected revenue growth from $3 million in 2023 to $30.7-31.2 million in 2024, over a tenfold increase.
- Anticipated transition to positive net income in 2024 from a previous year's loss.
- 2025 revenue forecasted at $40-50 million, indicating continued strong demand.
Phoenix Motor Inc. (PEVM), a prominent manufacturer of heavy-duty transit buses and electrification solutions for medium-duty vehicles, has announced its plans to host a webinar on June 4, 2025, at 4:15 p.m. ET. The company will be discussing its fiscal year 2024 financial results during this event.
For 2024, Phoenix Motor projects its revenue to be in the range of $30.7 to $31.2 million, marking a significant growth from $3 million in 2023. This projection indicates more than a tenfold increase, accompanied by an expected transition to positive net income, a notable turnaround from the previous year's losses.
Looking towards 2025, Phoenix Motor forecasts a revenue range of $40 to $50 million, driven by market expansion and a robust demand for its zero-emission commercial vehicle solutions. This growth trajectory underscores the company's strengthening position in the electric vehicle industry.
The upcoming webinar will feature key members of Phoenix Motor's leadership team, including CEO Denton Peng, CFO Michael Yung, COO Lewis Liu, CRO Jose Paul Plackal, and CTO Tony Zhou, followed by a question and answer session.
