Phoenix Motor Inc (NASDAQ: PEV), a manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, said this week it had appointed Michael Yung as its next Chief Financial Officer, effective April 17th.
Prior to joining Phoenix Motor, Yung was the CFO at PingTan Marine Enterprise Ltd.
Before that, he served as Managing Director for Asia at European American Capital.
And, previously, Yung assumed the role of Senior Vice President at UBS Paine Webber.
“We are thrilled to welcome Michael to our executive team,” Denton Peng, Chief Executive Officer of Phoenix Motor, said in a press release.
“His extensive financial expertise and proven leadership capabilities make him an invaluable asset to our company. Michael’s vision for financial excellence aligns perfectly with our goals of enhancing operational efficiency and boosting market expansion as we continue to forge our leadership position in the rapidly expanding commercial EV sector.”
Stock Performance
The shares of Phoenix Motor Inc (PEV) closed 0.17% ($0.0012) lower at $0.6988 on Nasdaq on Thursday, as they extended the losses from the previous two market sessions.
The company’s total market cap now stands at $24.238 million.
The shares of Phoenix Motor Inc (PEV) went down 0.94% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated 33.45% so far this year.
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