secwatch.observer — SEC 8-K summary
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Issuer:     PHOENIX MOTOR INC. (PEVM)
CIK:        0001879848
Form:       8-K
Filed at:   2022-12-21T23:59:59+00:00
Accession:  0001104659-22-128848
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Romeo Systems terminates battery supply agreement with Phoenix Motor; company disputes, has CATL alternative
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- Romeo Systems terminated the Sept 2020 battery pack supply agreement effective Dec 15, 2022, citing delivery of 'prototype packs'.
- Phoenix disputes Romeo's characterization, stating purchase orders and invoices did not label packs as prototypes.
- Company is evaluating breach of contract and warranty claims; has requested a meeting to resolve amicably.
- Phoenix has already secured battery supply from Coulomb Solutions Inc. (CATL distributor) and has begun deliveries with CATL batteries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879848/000110465922128848/0001104659-22-128848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879848/000110465922128848/tm2233206d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-128848

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