SPI (NASDAQ: SPI) Energy Shares Rocket Higher as Its Subsidiary – EdisonFuture – and China's Shaanxi Tongjia ...

As per the press statement released today, SPI Energy’s subsidiary – EdisonFuture – has concluded a strategic partnership agreement with China’s Shaanxi Tongjia Automobile to develop and sell a new generation of smart electric pickup trucks as well as electric logistics vehicles:

As a refresher, SPI Energy jumped onto the radar of investors on the 23rd of September when it launched EdisonFuture, its wholly-owned subsidiary tasked with designing and developing electric vehicles and EV charging solutions.

As per the terms of the agreement disclosed today, SPI Energy – through its subsidiary EdisonFuture – will become the exclusive distributor of the electric pickup and delivery trucks currently being manufactured by Shaanxi Tongjia.

This will allow SPI Energy to capitalize on the cost advantage of these trucks to establish a foothold in the American commercial EV segment.

Consequently, it is hardly surprising that SPI Energy shares have surged over 35 percent in today’s pre-market trading session, currently hovering at the $9.73 price level.

Thereafter, on the 30th of September, as part of this shelf registration process, SPI Energy announced a securities purchase agreement with institutional investors.

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