Phoenix Motor Inc. ( PEV ) shares are trading higher premarket on Thursday. On Wednesday, the company launched a new initiative to develop autonomous robots for package pickup and last-mile delivery.

This expansion builds on its recently introduced autonomous food and beverage delivery vehicle program.

Phoenix Motor ( PEV ) is incorporating its cutting-edge autonomous technology into compact, self-navigating delivery robots.

These robots form a seamless automated logistics ecosystem when paired with its autonomous delivery vehicles. The initiative will launch with a pilot program to optimize e-commerce and local package deliveries.

Phoenix Motor's ( PEV ) autonomous robots will incorporate AI-driven navigation, obstacle detection and secure storage for safe and efficient goods transport. Designed for both B2C and B2B applications, they will enable on-demand, contactless deliveries across industries like retail, logistics, and healthcare.

With this expansion of its autonomous technology portfolio, Phoenix Motor ( PEV ) strengthens its leadership in sustainable, intelligent transportation, reaffirming its commitment to pioneering electric and autonomous mobility solutions.

“The evolution of last-mile delivery requires a multi-faceted approach, and Phoenix Motor ( PEV ) is proud to expand its autonomous solutions with the introduction of package pickup and delivery robots,” said Denton Peng, CEO of Phoenix Motor ( PEV ).

“By leveraging our expertise in electric and autonomous mobility, we aim to provide businesses with cost-effective and sustainable solutions to meet the rising demand for seamless delivery services.”

This week, the company disclosed that it secured a $6 million loan financing agreement with J.J. Astor & Co to support expansion initiatives, including higher operations and production to fulfill pending orders for electric transit buses.

Price Action: PEV shares are down 2.61% at $0.6580 premarket at last check Thursday.

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