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SPI Energy (SPI) Stock Gains After Launching EV Charging Products in US

Sam Boughedda
Sam Boughedda trader
Updated 16 Jun 2021

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SPI

Shares of renewable energy firm SPI Energy (NASDAQ: SPI) are rallying premarket after the company said its wholly-owned Phoenix Motorcars subsidiary launched a full range of EV charging products for the US market.

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The all-in-one EV charging solutions come in a variety of configurations and serve both residential and commercial customers.

“The EV industry is scrambling to build out enough chargers to handle the expected wave of EV adoption,” said Joe Mitchell, Phoenix Motorcars CEO.

“We are thrilled to introduce our own proprietary line of EV charging solutions that fulfill customer needs from residential applications to high-volume commercial installations.”

SPI Energy’s share price is trading at $8.75 premarket, up 33.38%. In the past year, the company’s stock price has gained over 579%.

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.