Phoenix Motor names Tony Shen as chief financial officer

Phoenix Motor Inc. (OTC:PEVM), a company with annual revenue of $16.86 million and current market capitalization of $8.13 million, has appointed Tony Shen as chief financial officer, effective Tuesday. The announcement was made in a press release statement included in a recent filing with the Securities and Exchange Commission.

Shen, 58, has more than 15 years of experience as CFO of U.S.-listed and pre-IPO companies. According to the filing, he previously served as CFO of HC Financial Group from 2016 to 2019, where he managed finance and operations across more than 10 companies and led acquisitions in the insurance and lending sectors. Shen also held CFO roles at DHGate, a cross-border e-commerce platform, from 2014 to 2015, and at Ku6 Media, a Nasdaq-listed video platform, from 2010 to 2013. According to InvestingPro data, Shen joins at a crucial time as the company faces challenges with cash burn and debt management, though it maintains a healthy current ratio of 1.66.

Earlier in his career, Shen was CFO of China BAK Battery and eLong Inc., both U.S.-listed companies. He also held senior finance positions at Solectron (later Flextronics), Digital Equipment Corp., and Siemens AG China. Shen holds an MBA in Finance from Columbia Business School and a bachelor’s degree in electrical engineering from Tsinghua University.

Phoenix Motor, based in Anaheim, California, manufactures truck and bus bodies. The company’s common stock was suspended from trading on the Nasdaq Stock Capital Market on April 15, 2025, and is currently quoted on the OTC Pink Limited Market under the symbol PEVM.

All information is based on a statement issued in a recent SEC filing.

In other recent news, Phoenix Motor Inc. has made significant strides in its leadership and international expansion efforts. The company announced the appointment of John Walsh as president and CEO of its U.S.-based subsidiary, PhoenixEV. Walsh brings over 35 years of experience in the transit and electric mobility sectors, having previously held leadership roles at EO Charging Americas and Proterra Inc. In another development, Phoenix Motor has entered into a Cooperation Agreement to establish an electric vehicle manufacturing subsidiary in China. This agreement involves Shandong Maolin Sida Automobile Co., Ltd., Mengzhou Enbowei Automobile Technology Co., Ltd., and individual shareholders of Enbowei. The new subsidiary will be based in Mengzhou, China, with a registered capital of RMB 20 million, to be contributed in stages. These recent developments reflect Phoenix Motor’s strategic efforts to enhance its leadership team and expand its manufacturing capabilities internationally.

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