---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-045305"
form_type: "8-K/A"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2024-04-10T23:59:59+00:00"
generated_at: "2026-06-04T00:36:50.869834+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Phoenix Motor acquisition of Proterra Transit shows $54.95M net loss in 2023

## Summary
- Net loss of $54.95M on revenue of $115.78M in 2023; prior year net loss of $75.05M on revenue of $191.09M.
- Auditor issued disclaimer of opinion; could not obtain sufficient evidence from Proterra's accounting records.
- Proterra filed Chapter 11 in Aug 2023; Phoenix Motor paid $3.5M for transit assets and $6.5M for battery leases.
- Accumulated deficit reached $130M as of Dec 31, 2023; stockholders' deficit of $130M.
- Going concern uncertainty noted; operating cash flow was positive $9.9M in 2023 after negative $135.8M in 2022.

## SEC filing metadata
- accession: 0001104659-24-045305
- form_type: 8-K/A
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2024-04-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465924045305/0001104659-24-045305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465924045305/tm2411365d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-045305
- JSON: https://secwatch.observer/filing/0001104659-24-045305.json
- Plain text: https://secwatch.observer/filing/0001104659-24-045305.txt

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