Stock Alert: SPI Energy Surges 40% After Delivering Electric Shuttle Bus

Shares of SPI Energy Co., Ltd. (SPI), a Hong Kong-based renewable energy company, are surging more than 40 percent or $4.35 in Tuesday's morning trade at $15.07.

Tuesday, SPI Energy said that Phoenix Motorcars, which was recently acquired by the company's wholly owned subsidiary, EdisonFuture, delivered its second all-electric ZEUS Z-400 shuttle bus to the City of Santa Cruz.

The two ZEUS shuttles, built by Phoenix Motorcars on the Ford E-450 chassis with a Starcraft Bus body, will serve the Santa Cruz trolley by replacing their existing wooden trolleys and help to promote the City's sustainability goals.

SPI Energy has traded in a range of $0.55 to $46.67 in the past 52 weeks.

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