---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-119545"
form_type: "8-K"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2023-11-17T23:59:59+00:00"
generated_at: "2026-06-08T00:28:07.179379+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phoenix Motor wins bid for Proterra Transit assets for $10M cash

## Summary
- Total cash consideration $10M: $3.5M for Proterra Transit business, $6.5M for battery lease agreements.
- Acquisition adds heavy-duty transit buses to Phoenix's medium-duty electric vehicle product lineup.
- Bankruptcy court approval hearing scheduled Nov 28; closing targeted by Dec 5, 2023.
- Phoenix assumes certain liabilities including warranties; deal subject to court approval.

## SEC filing metadata
- accession: 0001104659-23-119545
- form_type: 8-K
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2023-11-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465923119545/0001104659-23-119545-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465923119545/tm2330970d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-119545
- JSON: https://secwatch.observer/filing/0001104659-23-119545.json
- Plain text: https://secwatch.observer/filing/0001104659-23-119545.txt

## Key facts
- Material Agreements
  PHOENIX MOTOR INC. entered into Asset Purchase Agreements with Proterra, Inc. and its subsidiary, Proterra Operating Company, Inc. valued at $10 million in cash (effective 2023-11-13).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Proterra, Inc. and its subsidiary, Proterra Operating Company, Inc.
  - Value: $10 million in cash
  - Effective: 2023-11-13
  source text: On November 13, 2023, Phoenix Motor Inc. (the “Company” or “Phoenix”), entered into two Asset Purchase Agreements (collectively, the “Asset Purchase Agreements”) with Proterra, Inc. and its subsidiary, Proterra Operating Company, Inc. (collectively, “Proterra”), pursuant to which Phoenix agreed to purchase substantially all of the assets of the Proterra Transit business line.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465923119545/0001104659-23-119545-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.