Phoenix Motor Inc. announced the signing of an Equipment Testing Agreement with Fermata Energy LLC. The Fermata Energy platform allows EVs to be utilized as mobile energy storage assets to send energy stored in EV batteries to the local grid or to a building when it is needed most, all while supporting grid resilience. V2X includes vehicle-to-grid (V2G) and vehicle-to-building (V2B) projects.

Under the agreement, Fermata Energy will pair its V2X bidirectional chargers and AI-driven software platform with Phoenix's zero emission drive system. With the bidirectional charging platform, Phoenix's customers with zero emission drive systems can earn revenue while their vehicles are parked either from their local utility (V2G) or avoid costly peak demand charges by sending energy to their building (V2B).