Anaheim, CA – Phoenix Motor Inc. (OTC PINK: PEVMD), a manufacturer of heavy-duty electric transit buses and electrification solutions, has appointed Tony Shen as its new Chief Financial Officer, effective immediately.
Shen‘s extensive career in finance spans over 15 years, encompassing roles in both publicly listed and pre-IPO companies. His expertise includes shareholder value creation, fundraising, and navigating complex global financial markets.
His most recent position was as CFO of HC Financial Group. There, he oversaw financial and operational aspects of multiple companies, guided significant revenue growth, and led strategic acquisitions in the insurance and lending sectors.
Prior to HC Financial Group, Shen held CFO roles at several other companies. His experience includes guiding an e-commerce platform through IPO preparation and fundraising, as well as leading a video platform’s capital market repositioning and significant share price increase. He also served as CFO for two U.S.-listed companies, where he achieved operational improvements and profitability. His early career included senior finance positions at prominent multinational corporations. Shen holds an MBA from Columbia Business School and a Bachelor of Engineering from Tsinghua University.
Denton Peng, Chairman and CEO of Phoenix Motor, expressed enthusiasm for Shen‘s appointment, highlighting his experience in guiding high-growth companies and his qualifications to support Phoenix Motor‘s growth objectives. Peng emphasized Shen‘s role in furthering the company’s expansion, both domestically through PhoenixEV and internationally through EdisonFuture.
Shen expressed his excitement about joining Phoenix Motor, emphasizing the company’s leadership position in zero-emission commercial vehicles. He stated his intention to work collaboratively with the team to enhance financial performance and operational scaling, furthering the company’s mission of sustainable transportation.
Phoenix Motor Inc. develops and manufactures zero-emission electric vehicles under two brands: PhoenixEV for the American market and EdisonFuture for international markets. The company offers a range of electric vehicles, from buses to delivery vans and trucks, incorporating advanced technologies. The company has already delivered over 1,300 vehicles and accumulated significant zero-emission mileage.
The company’s press release included a cautionary statement regarding forward-looking statements, advising readers to consider potential risks and uncertainties that could affect future results. These factors include the ability to secure funding, market demand, profitability, supply chain issues, economic conditions, and competition.
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