SANTA CLARA, CALIFORNIA –Thursday, October 15, 2020 – SPI Energy Co., Ltd., (NASDAQ: SPI) (the"Company"), a global renewable energy company and provider ofphotovoltaic (PV) and electric vehicle (EV) solutions for business, residential,government, logistics and utility customers and investors, today announced thatits wholly-owned subsidiary, EdisonFuture Inc. (“EdisonFuture”), has enteredinto a strategic cooperation framework agreement with Shaanxi TongjiaAutomobile Co., Ltd. ("Tongjia"), a leading manufacturer ofall-electric logistic vehicles in China,
Under the terms of the agreement,EdisonFuture and Tongjia will cooperate in the customized design, development,production, and sales of a new generation of smart electric pickup trucks andelectric logistics vehicles. Tongjia will supply parts and support toEdisonFuture’s assembly facility in Fresno, California, where EdisonFuture willcomplete assembly of the vehicles, including the addition of software and otherparts produced locally. EdisonFuture will also be the exclusive North American distributorof all-electric “last-mile” delivery box trucks and pickup trucks currently producedby Tongjia.
“Weare very excited to advance our new EV business with a strong partner such asTongjia,” stated Xiaofeng Peng, Chairman and CEO of SPI Energy. “As the multi-billion-dollarlast mile delivery market in North America continues to see rapid growth,logistic operators are looking to EV solutions to lower costs and increaseprofits. Through our partnership with Tongjia we believe we can meet thisgrowing demand.”
About SPI Energy
SPI Energy Co., Ltd. (SPI) is aglobal renewable energy company and provider of photovoltaic (PV) and electricvehicle (EV) solutions for business, residential, government, logistics andutility customers and investors. TheCompany provides a full spectrum of EPC services to third party projectdevelopers, as well as develops, owns and operates solar projects that sellelectricity to the grid in multiple countries, including the U.S., the U.K.,Greece, Japan and Italy. The Company hasits US headquarter in Santa Clara, California and maintains global operationsin Asia, Europe, North America and Australia. SPI is also targeting strategicinvestment opportunities in green industries and/or industries, such aselectric vehicles and charging stations, leveraging the Company’s expertise andgrowing base of cash flow from solar projects.
This press release contains forward-looking statements, asthat term is defined in the Private Litigation Reform Act of 1995, that involvesignificant risks and uncertainties. Forward-looking statements can beidentified through the use of words such as may," "might,""will," "intend," "should," "could,""can," "would," "continue," "expect,""believe," "anticipate," "estimate," "predict,""outlook," "potential," "plan," "seek,"and similar expressions and variations or the negatives of these terms or othercomparable terminology. Readers are cautioned not to place undue reliance onthese forward-looking statements, which reflect the Company's currentexpectations and speak only as of the date of this release. Actual results maydiffer materially from the Company's current expectations depending upon anumber of factors. These factors include, among others, the coronavirus(COVID-19) and the effects of the outbreak and actions taken in connectiontherewith, adverse changes in general economic and market conditions,competitive factors including but not limited to pricing pressures and newproduct introductions, uncertainty of customer acceptance of new productofferings and market changes, risks associated with managing the growth of thebusiness, and those other risks and uncertainties that are described in the"Risk Factors" section of the Company's annual report filed on Form20-F filed with the Securities and Exchange Commission. Except as required bylaw, the Company does not undertake any responsibility to revise or update anyforward-looking statements.
SPI Energy Co., Ltd.