Phoenix Motorcars to Participate in the Maxim Group's Electric Vehicle & Auto Tech Conference

Phoenix Motorcars (the "Company" or "Phoenix") (Nasdaq: PEV), a leader in manufacturing of all-electric, medium-duty vehicles, today announced that its management team is scheduled to participate in Maxim Group's Electric Vehicle & Auto Tech Conference on Thursday, March 30^th. Chris Wang, Phoenix's Chief Financial Officer, and Mark Hastings, its Senior Vice President of Corporate Development & Strategy, will participate in the "Multiple Markets for EVs" panel at 4:00 pm EDT.

Attendance at this conference will be available to M-Vest members, or to individuals who become an M-Vest members by clicking here.

Phoenix Motorcars' most recent investor materials can be accessed via its website at https://phoenixmotorcars.com/investor-relations/investor-overview/default.aspx.

As previously highlighted, Phoenix Motorcars will announce its Fourth Quarter and Full Year 2022 earnings on Wednesday, March 29^th after market close. This release will be followed by a conference call hosted by members of the Phoenix Motorcars management team at 5:00 pm EDT. Interested investors and other parties may access a live webcast of the conference, which will be available on the Events and Presentations page within the Investor Relations section of Phoenix Motorcars' website.

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and light- and medium-duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix markets its commercial, medium-duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others) under its "Phoenix Motorcars" brand. Phoenix intends to bring "EdisonFuture" to market by 2025, which is its light-duty EV truck offering for the recreational and commercial market. For more information, please visit: www.phoenixmotorcars.com.