SPI Energy Inc. (SPI) stock soars during current market trading. Let’s see why?

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SPI Energy Inc. (NASDAQ: SPI) stock gained by 11.44% in the current market trading session. SPI Energy is an international renewable energy company that offers solar storage and electric vehicle (EV) solutions to consumers and investors in the commercial, residential, government, logistics, and utility sectors.

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SPI Energy confirmed today that EdisonFuture, a fully owned subsidiary of SPI Energy, and Phoenix Motor subsidiary have launched the EF1-T which is a next-generation electric pickup truck.

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The EF1-T electric pickup truck, designed in partnership with Icona and leading automaker partners, is the first in a series of developed all-electric pickup trucks and last-mile delivery trucks that incorporate EdisonFuture and Phoenix Motor’s ambition for human-centered future transportation and fundamentally change how customers and vehicles interact. The EF1-T basic model has a total power output of 350 kilowatts (kW), or 470 horsepower (HP), while EdisonFuture’s top-of-the-line “Super” model has a total power output of 600 kW, or 816 horsepower (HP).

The EF1-T e-pickup trucks, which are suited for utility and commercial clients, have a unique solar mosaic technology that gives a striking aesthetic signature while simultaneously harnessing the power of the sun to replenish the batteries, allowing work vehicles to charge constantly while in the field.

Mr. Xiaofeng Peng, Chairman & Chief Executive Officer of SPI Energy stated,

EdisionFuture and Phoenix Motorcars’ aim is to be pioneers in sustainable mobility, with an emphasis on energy efficiency and creative design. They’ve already filed numerous design and technology patents for the EF1-T in the United States, and they’re excited to bring this game-changing vehicle to market in the coming months.

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In 2020, nearly 2.9 million pickup trucks were sold in the United States, accounting for roughly 20% of the total US car market. According to Cox Automotive statistics, roughly one-fifth of buyers looking for a pickup truck in the next two years are contemplating an electric pickup truck.


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