SPI Energy Expands Its Electric Vehicle Rental Business in Southern China

SHANGHAI — SPI Energy’s majority-owned subsidiary, Beijing Yiwei New Energy Technology Development Company (“Yiwei”), has expanded its business into China’s southern province of Hainan. The Internet-based electric vehicle (EV) rental service provider, which has existing operations in Beijing and Shenzhen, is expanding to Hainan, which is expected to see a spike in tourism during the upcoming Chinese New Year holiday.

Xiaofeng Peng, Chairman of SPI Energy said, “Every year more Chinese people are choosing to drive cars to explore the country during the Chinese New Year holiday. This year SPI Energy is pleased to offer EV rental solutions for environmentally conscious travelers visiting China’s popular coastal province of Hainan. With increasing government support and business investment, there are now EV charging facilities across China that are encouraging more people to rent and purchase EVs.”

SPI Energy closed its investment of RMB30 million for a 60% stake in Yiwei in January 2016 and is leveraging its Solarbao.com platform to help Yiwei expand its existing fleet of EVs and EV chargers in China. Users can book the EVs through Yiwei’s website or mobile app.

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.