Phoenix Motor receives noncompliance notification from Nasdaq

Phoenix Motor announced that it received a delinquency notification letter from Nasdaq on August 16 due to the company’s non-compliance with Nasdaq as a result of the company’s failure to timely file its quarterly report on Form 10-Q for the quarterly period ended June 30. Previously, the company received a delinquency notification from Nasdaq that the company no longer complied with the listing rule as it had not yet filed its Form 10-Q for the quarterly period ended March 31.