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SPI Energy Launches New Electric Vehicle Company Subsidiary

September 23, 2020


SANTACLARA, California, September 23, 2020 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd.("SPI Energy" or the "Company") (NASDAQ: SPI), a globalprovider of photovoltaic (“PV”) solutions for business, residential, governmentand utility customers and investors, today announced the launch ofEdisonFuture, Inc., a wholly owned subsidiary of SPI Energy, to design anddevelop electric vehicles (“EV”) and EV charging solutions.

 

Mr. Xiaofeng Peng, Chief Executive Officer ofSPI Energy, commented, “This is an important milestone for SPI Energy. As Teslahas demonstrated, an end-to-end business model in the renewable energy spacecan generate significant value. With the addition of EV and EV chargingsegments to our diverse solar business, we are positioning SPI Energy for thefuture of renewable energy.”

 

EdisonFuture is based at Silicon Valley inSanta Clara, California and completements the Company’s current suite of PVsolutions, including solar and battery storage technologies. EdisonFuture willfocus on the design and development of new EV technologies and plans to partnerwith major manufacturers, as necessary.

 

Sales of EVs topped 2.1 million globally in2019, surpassing record sales in 2018. EVs, which accounted for 2.6% of globalcar sales and about 1% of global car stock in 2019, registered a 40%year-on-year increase. 

 

The infrastructure for EV charging grew to 7.3million chargers globally in 2019. Publicly accessible chargers accounted for12% of global light-duty vehicle chargers in 2019, most of which are slowchargers. Globally, the number of publicly accessible chargers (slow and fast)increased by 60% in 2019 compared with the previous year, higher than theelectric light-duty vehicle stock growth.

 

 

AboutSPI Energy Co., Ltd.

 

SPI Energy Co., Ltd. (the “Company”) is aglobal provider of photovoltaic (“PV”) solutions for business, residential, governmentand utility customers and investors. The Company develops solar PV projectsthat are either sold to third party operators or owned and operated by theCompany for selling of electricity to the grid in multiple countries in Asia,North America and Europe. The Company’s subsidiary in Australia primarily sellssolar PV components to retail customers and solar project developers. TheCompany has its operating headquarter in Santa Clara, California and maintainsglobal operations in Asia, Europe, North America and Australia.

 

For inquiries, pleasecontact:

SPI Energy Co., Ltd.

IR Department

Email: ir@spigroups.com

 

DaveGentry

RedChipCompanies, Inc.

Phone:(407) 491-4498

dave@redchip.com

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