Phoenix Motorcars, a manufacturer of all-electric, medium-duty vehicles, announced the signing
of a non-binding Memorandum of Understanding (MOU) with Contemporary Amperex Technology Co.
Limited (CATL), a Chinese battery manufacturer and technology company, for the codevelopment
of batteries for Phoenix Motorcars’ product lines.

The MOU will support the long-term supply of battery solutions and related products for Phoenix’s
commercial electric vehicles including Gen 4 vehicles, as well as the potential co-operation on Gen 5 and
EdisonFuture (Gen 6) models in the future. The two companies also agreed to explore the opportunity to
deploy E-rolling chassis technology in Phoenix vehicle models.

Developed for commercial vehicles by its subsidiary Suzhou Synland Technology Co., Limited, CATL’s
E-rolling technology is a separate frame construction chassis solution that integrates coaxial e-beam, frame,
electronic devices and the battery pack, which in turn is integrated with the power domain controller. The technology supports various vehicle types including pickups, light trucks, vans, and RVs.