Phoenix Motor Inc. announced that its Board of Directors has appointed J. Mark Hastings as the Company's Chief Financial Officer. Mr. Hastings has served as the Company's Chief Investment Officer since December 2023 and had served as Senior Vice President of Corporate Development and Strategy and Head of Investor Relations since August 2022. Prior to that, Mr. Hastings, age 60 served as Vice President of Finance and Insurance at Rodo Inc. where, as a Leadership Team Member, he headed its online fintech department and founded and served as head of Rodo Insurance Agency.

From 2013 to 2018, Mark served as Principal, Portfolio Manager and Head of Investor Relations at Geosphere Capital Management in New York, NY. From 2010 to 2013, Mr. Hastings served as Portfolio Manager and Trader at Saugatuck Energy in Southport, CT. Prior to that, Mark was a Research Analyst at S.A.C. Capital Advisors (now Point72 Asset Management) in Stamford, CT.

From 2000 to 2003, Mark was Director of Global Energy Sell Side Equity Research at Deutsche Bank in New York, NY and from 1994 to 1999, he was Vice President of Sell Side Energy Research at Merrill Lynch & Co. Mark started his career as Senior Auditor at Exxon Corporation in New Jersey and Houston, TX from 1991 to 1994. Mr. Hastings was awarded a Bachelor of Arts degree in Economics from the University of Virginia and a Master of Business Administration degree in Finance from the University of Tennessee, where he earned the James M. Gower Outstanding MBA Achievement Award.

On March 8, 2024, the Company accepted the resignation of Mr. Chris Wang as Chief Financial Officer of the Company effective as of March 8, 2024. Mr. Wang resigned for personal reasons and there were no disagreements between Mr. Wang and the Company.