Phoenix Motor Inc. and IAT Automobile Technology Co., Ltd. announced an agreement with the goal of advancing the engineering and design work for Phoenix Motorcar's fourth generation ("Gen 4") electric vehicles. This collaboration is expected to maximize cost efficiencies, speed time to market and ensure the quality standards during the crucial vehicle development phase. Phoenix's Gen 4 vehicles are expected to begin production and delivery in 2023 and will feature new options designed to increase customer satisfaction and efficiency and should result in lower price points for Phoenix customers.

Phoenix's Gen 4 electric vehicles will include features such as a fixed battery or swappable battery system, as well as the addition of eAxle technology, which will deliver higher efficiency and greater range.