SHANGHAI, June 6, 2016 /PRNewswire/ -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that its majority-owned subsidiary, Beijing Yiwei New Energy Technology Development Company ("Yiwei"), has expanded its business into Tangshan, a large city in China's northeastern province of Hebei. The Internet-based electric vehicle (EV) rental service provider has existing operations in Beijing, Shenzhen and Hainan.
"We are pleased to see the further expansion of Yiwei's business along with the exploding popularity of EV cars in China," said Xiaofeng Peng, Chairman and CEO of SPI Energy. "Car sharing technology and EVs are playing an important role in combatting pollution and congestion on China's roads. With Yiwei's high quality fleet of EVs and Solarbao.com's innovative e-commerce platform, SPI Energy is well positioned to benefit from the evolving transportation system in the world's largest car market."
SPI Energy closed its investment of RMB30 million for a 60% stake in Yiwei in January 2016 and is leveraging its Solarbao.com platform to help Yiwei expand its existing fleet of EVs and EV chargers in China. Users can book the EVs through Yiwei's website or mobile app.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.
Safe Harbor Statement
This release contains certain "forward-looking statements." These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
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SOURCE SPI Energy