(ATIF) Shares of ATIF Holding Ltd rose more than 17% on Thursday after it disclosed an investment in electric vehicle Company Phoenix Motor Inc.
ATIF President and CEO Jun Liu said the investment cemented the company’s strong belief in the growth prospects of Phoenix.
Liu says he believes Phoenix Motor brings a unique value proposition to the company and its shareholders. The CEO confirmed that ATIF participated in the Phoenix IPO and is looking forward to its continued growth.
ATIF is banking on Phoenix’s third-generation drivetrain that includes the largest battery pack and longest electric range for any Class 4 product on the market. The product offers up to 160 miles in range.
Phoenix is credited for designing, assembling and integrating electric drive systems and EVs targeting the commercial and residential segments.
Phoenix delivered its first commercial EV in 2014. The company had delivered a total of 104 EVs as of December 31, 2021, which consisted of 91 shuttle buses and 13 work and delivery trucks.
PEV:NASDAQ is up +22.21%, ATIF:NASDAQ is up +17.11%.
