World News – US – SPI Energy Advances EdisonFuture Electric Vehicle Subsidiary Through Strategic Agreement with Shaanxi Tongjia Automobile Co, Ltd

SANTA CLARA, CA / ACCESSWIRE / October 15, 2020 / SPI Energy Co, Ltd, (NASDAQ: SPI) (the “Company”), a global renewable energy company and provider of photovoltaic (PV ) and electric vehicles (EVs) for businesses, individuals, governments, logistics and utilities and investors, today announced that its wholly-owned subsidiary, EdisonFuture Inc (« EdisonFuture »), has concluded a strategic cooperation framework agreement with Shaanxi Tongjia Automobile Co, Ltd (« Tongjia »), one of the leading manufacturers of all-electric logistics vehicles in China,

Under the terms of the agreement, EdisonFuture and Tongjia will cooperate in the custom design, development, production and sale of a new generation of intelligent electric vans and electric logistics vehicles Tongjia will supply parts and support for EdisonFuture’s assembly plant in Fresno, Calif., where EdisonFuture will complete vehicle assembly, including adding software and other locally produced parts EdisonFuture will also be the exclusive North American distributor of all-electric last mile delivery trucks and vans currently produced by Tongjia

“We are very happy to advance our new EV business with a strong partner such as Tongjia,” said Xiaofeng Peng, Chairman and CEO of SPI Energy “As the multi-billion last mile delivery market million dollars in North America continues to grow rapidly, logistics operators seek EV solutions to reduce costs and increase profits Thanks to our partnership with Tongjia, we believe we can meet this growing demand « 

About SPI EnergySPI Energy Co, Ltd (SPI) is a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions for businesses, individuals, governments, logistics and utilities and investors The company provides a full range of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in several countries, including the US, the UK, Greece, Japan and Italy The company is headquartered in the US in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia SPI is also targeting strategic investment opportunities in industries and / or green industries, such as electric vehicles and charging stations, leveraging the company’s expertise and the growing cash flow base from e solar projects

Forward-looking statements This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties Forward-looking statements can be identified by using words such as may, « Could », « will », « intend », « should », « could », « may », « would like, » « continue », expect, « believe », « anticipate », « estimate » , « Predict », « foresee », « potential », « plan », « research » and similar expressions and variations or the disadvantages of these or other comparable terms Readers are cautioned not to place undue reliance on these statements forward-looking statements, which reflect the current expectations of the company and are valid only as of the date of this press release Actual results may differ significantly from current company expectations depending on a number of factors These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and the actions taken in this regard, adverse changes in general economic and market conditions, competitive factors including, but not limited to, pricing pressures and the introduction of new products, uncertainty of acceptance by customers of new product offerings and market changes, the risks associated with managing the growth of the business and the other risks and uncertainties described in the “Risk factors” section of the company’s annual report filed on form 20-F filed with the Securities and Exchange Commission Unless required by law, the company assumes no responsibility for reviewing or updating any forward-looking statements

NASDAQ: SPI, SPI Energy, Stock, NASDAQ