PhoenixDAO USD Price & Performance (PHNXUSD)

Phoenix Motor has announced a $140 million fund in collaboration with Beijing Guorun Venture Capital to establish EV manufacturing sites in China. This initiative aims to integrate advanced EV technologies with China's supply chain, targeting both domestic and global markets while optimizing costs and expanding production capabilities.1

EdisonFuture International, a subsidiary of Phoenix Motor, will leverage a RMB 1 billion fund to acquire EV production assets in China. This move positions the company to utilize China's cost-efficient manufacturing ecosystem, potentially lowering production costs and enhancing operational efficiency for international and domestic markets.1

Phoenix Motor's agreement with Guorun Venture Capital marks a significant step in entering China's EV market. The partnership will establish manufacturing sites to support the company’s global expansion strategy, providing access to advanced supply chains and a scalable platform for sustainable growth in the electric vehicle sector.1