Phoenix Motor's (PEV) EdisonFuture Plans to Accept Payment in Bitcoin

Phoenix Motor Inc. (NASDAQ: PEV) ("Company" or "Phoenix"), a leading electrification solutions provider for medium-duty vehicles, today announced that its EdisonFuture subsidiary plans to accept Bitcoin as a payment option for its customers to pay for EdisonFuture brand electric pick-up trucks and delivery vans, once those products become available in the market.

The company conducted market research and discovered that there was a growing interest around bitcoin which was accelerated by the coronavirus pandemic and complex geopolitics. This informed our decision to allow customers to pay for our products and services using bitcoin, and to better meet the growing demand for Web 3 and Artificial Intelligence in the near future.

"We're always looking for ways to improve and expand our services. This move represents an investment in the company's digital future in response to growing customer demand for more choice when it comes to payments", said Denton Peng, Chairman and CEO of Phoenix Motorcars.

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