Phoenix Motorcars to Hold First Quarter 2023 Earnings Call on May 15

Phoenix Motor Inc. ("Company" or "Phoenix") (Nasdaq: PEV), a leader in manufacturing of all-electric, medium-duty vehicles, today announced that the Company will release its first quarter 2023 financial results after market close on Monday, May 15, 2023. This release will be followed by a conference call hosted by members of the Phoenix Motorcars management team at 5:00 PM Eastern Time.

Interested investors and other parties may access a webcast of the conference which will be available on the Events and Presentations page within the Investor Relations section of Phoenix Motorcars' website at www.phoenixmotorcars.com. The call can also be accessed live via telephone by dialing (888) 660-6373 or for international callers (929) 203-1975 and referencing Phoenix Motorcars. Please log in to the webcast or dial in to the call at least 10 minutes prior to the start of the event.

An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Phoenix Motorcars' website, along with the Company's earnings press release.

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, "Phoenix Motorcars", which is focused on commercial products including medium-duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others), electric vehicle chargers and electric forklifts, and "EdisonFuture", which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com.