SPI Energy (NASDAQ: SPI) shares are trading higher on Monday after the electric vehicle company announced its wholly-owned subsidiary, EdisonFuture Inc, and Phoenix Motor Inc launched its electric pickup truck, EF1-T.
The e-pickup truck, developed in partnership with Icona among other automakers, is the first product in a line of all-electric trucks and last-mile delivery vans that EdisonFuture and Phoenix Motor will develop.
According to SPI, the EF1-T standard model comes equipped with a total power of 350 kilowatts, or 470 horsepower, while EdisonFuture’s top of the line “super” model offers 600kW or 816 horsepower.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“Our vision for EdisionFuture and Phoenix Motorcars is to be leaders in sustainable transportation with focus on energy efficiency and innovative design,” stated Xiaofeng Peng, Chairman and CEO of SPI Energy.
“We have already filed multiple design and technology patents in the US related to the EF1-T and look forward to introducing this game-changing vehicle to the market in the coming months,” he added.
SPI Energy’s share price is currently up 14.57% at $7.
Should You Invest in SPI Energy Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
