Relations firm working with Phoenix Motor Incorporated. Thank you for joining Phoenix's Investor Day, whether in person here in Greenville, South Carolina, or on the web through Zoom. Phoenix Motor is a leading manufacturer of heavy-duty transit buses and provider of electrification solutions for medium-duty vehicles. Phoenix trades on the NASDAQ under the ticker PEV. For those of you who have been able to join us in person, today's event has given you an exclusive opportunity to tour Phoenix's recently acquired state-of-the-art transit bus manufacturing facility here in Greenville. This final segment here at the Hyatt Regency Greenville will feature presentations by members of Phoenix's management team. For those of you joining us in person, please save your questions until the Q&A session at the end. Users attending through Zoom may submit a question at any time by using the Q&A tool at the bottom of your Zoom window.
Before we begin, please allow me to briefly read the Safe Harbor Statement. This call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management, constitute forward-looking statements. Any statements that are not historical fact should also be considered forward-looking statements. Of course, forward-looking statements involve risks and uncertainties. With that out of the way, it is my great pleasure to present to you our first speaker, Denton Peng, the CEO of Phoenix.
Thank you. Good afternoon. Welcome to Greenville City, South Carolina. Welcome to Phoenix EV. First analyst and investor day, thank you for everybody. So today I would take this opportunity to introduce our Phoenix EV new brand. This is our new logo, Phoenix EV. Later I will share you the story of the Phoenix EV brand story. What we are doing, Phoenix is a commercial EV tech company. This is what we are doing today, and also we want to present you today. The company has two brands. What's the brand difference? Why two brands? Let me share the story for these two brands one by one. One brand we call Phoenix EV. We just announced the new logo, and another one is EdisonFuture. First, let me share in the first of the Phoenix EV brands. This brand we are doing American manufacturing for American market.
If, for short, we call A4A. Where is the story of this brand? Where does the Phoenix EV brand come from? Let's share the brand story from the start. In 2003, Phoenix Motorcars founded in California. One year later, Proterra founded. In 2007, Phoenix Motorcars showcased the first commercial EV in White House. After two decades of hard work and effort, both pioneered on the EV commercial sector, combined in January 2024. These two brands now merged to one brand called Phoenix EV. This is why the Phoenix EV brand comes from. Now we are leading medium-duty shuttle buses and electric transit buses manufacturing in America. Use this new platform, I think Phoenix EV will go into the next level. Now let me share the brand story of EdisonFuture. EdisonFuture brand is looking to do international resource partnership for international markets.
We aim to build an international brand using international supply chain, technology partnership, and strategic investment and talent to build an international market. For short, it's I4A. This combination of the two brands, EdisonFuture and Phoenix EV, we provide commercial EV tech solutions for heavy-duty, middle-duty, and light-duty. What's our vision? What's the company's clean tech vision for Phoenix and EdisonFuture? Our company aims to integrate with artificial intelligence, energy storage, new material, solar, and hydrogen clean tech, autonomous driving tech to build a clean tech and smart tech futures. Today is an important milestone. This morning we just announced a very, very important milestone. Let's celebrate our 55 million-plus problem-free driving miles. What does this mean? Over 195.9 million tons of CO2 emission savings, equivalent of carbon avoided, over 100,039,758 acres of forest in a year saved. This is a very important milestone.
I think a lot of detail will be shared by our colleagues. Thank you for your joining today, and thank you for coming here, both online and onsite. Thank you.
Thank you very much, Denton. Our next speaker, Jose Paul, the Chief Revenue Officer of Phoenix.
Good afternoon, everyone. And thanks, Denton, for that introduction. I just want to give you guys a very quick overview about the markets we operate in. To summarize, we are operating in a multibillion-dollar market, an opportunity that must be served to meet regulatory mandates. And let me repeat that: this is a multibillion-dollar market opportunity where customers don't have a choice but have to buy electric products like the ones we make. The products we make include transit buses and shuttle buses. We have a range of delivery and work trucks on the medium-duty side, and we also have the Type A school buses. All of these three large buckets of products have to go electric. There are mandates at a federal level, at a state level, and there is billion-dollar funding for each of these segments for these different customers and fleets to go electric.
On the transit bus side, you have consistent federal funding of over $1 billion annually, over $1 billion annually for transit agencies to go electric. We're starting off at pole position here because Proterra, which is now Phoenix, has over 40% market share. Over 30% of the largest transit bus fleets in the country were Proterra customers and now Phoenix customers. We have the best-in-class product, and we have the capability to take care of all of these customers. On the medium-duty side, our products offer significantly better total cost of ownership as compared to the incumbent technology. You have, again, regulatory factors which move these vehicles, Advanced Clean Trucks regulation in California, which requires fleets to go electric starting this year. Then there are many other states which are adopting similar regulations.
And again, there is a ton of state and federal funding which covers as much as 90% of the cost of procuring a new electric vehicle from Phoenix. On the school bus side, again, you have mandates. You have over $5 billion from the EPA, which allows fleets to go electric. And you have commitments from school districts and operators across the nation of over 5,600 buses, which they are committed to buy electric in the next few years. And across these segments, when you look at each of these segments, there are only a handful of players. On the transit bus segment, there are three companies from whom companies can actually buy electric vehicles today, including Phoenix. On the medium-duty shuttle bus side, again, there are two or three companies. So the market is really, really ripe, and we have a strong order backlog.
We have over 650 units between both our medium-duty and transit vehicle. These include contracted orders and LOIs, which account to about $360 million in projected revenues. With the combined strength of both Phoenix and the Proterra transit bus business, we have significant synergies to unlock. What we are allowed to do here is what we are capable of doing here is that we can actually integrate our engineering capabilities, our production capabilities, the best-in-class products we have, and give customers a holistic solution which allows them to go electric with one company across the board. We are able to save costs significantly because we have similar products, similar supply chain, and we also have the ability to now use two production facilities both in California and here in Greenville. In summary, I think, again, this is the market where customers have to buy electric.
There's a ton of money available for them to go electric, and there are few manufacturers who can provide the full range of products which Phoenix has to help them go electric. That gives us an undisputed chance to actually become one of the leading commercial vehicle manufacturers in the space. With that, I'll hand it over to the next speaker to give you an overview about our product, our engineering, operation capabilities, and also other updates. Thank you.
Thank you very much, Jose. That next speaker is Mike Finnern, General Manager for Transit for Phoenix.
Thank you. Good afternoon, everybody. I'm Mike Finnern, the General Manager. A little bit of background on me: I've been with Proterra, now Phoenix, for coming up on 15 years. So, I've had an opportunity to see how we have grown over time. We, in fact, started this industry back in 2010 when we delivered the very first heavy-duty, zero-emission, all-electric transit buses in the North American transit market. Let me tell you a little bit about our product. ZX5, that stands for Zero Emission, Long Range, Fifth Generation. So, you've heard from others that we are the market leader. We have over 40% market share, over 50 million mi traveled on our transit buses. You do that in two ways. You have a remarkable product, and just as importantly, if not more, you have a remarkable set of people developing that product and servicing our customers.
You had a chance to see both of those in action today. Those of you that were in the factory for the tour, you had a chance to see some of the remarkable people that we have at Proterra and now Phoenix. And let me tell you a little bit more about the product. So a key advantage that we have is our transit bus, different from our two competitors, is we've designed this from the ground up as an EV. That allowed us to take into account certain considerations, design considerations, to optimize the vehicle. So I'll talk to you a little bit about those. The body. We have an advanced composite body, different from other OEMs. This is extremely strong, and it's extremely lightweight. The advantages this offers, in addition, is it allows us to place certain components exactly where we want them.
It's also extremely durable, meaning our customers can use this bus for likely more than the 12 years that they're obligated to, sometimes 15 years or 18 years of life because of the structure that we've created. It's also extremely safe in that it's nonconductive. Okay. I said it's purpose-built. One of the key elements that's beneficial for that is where we put our batteries. We have pockets underneath the floor between the axles, which we consider to be the safest place to put the batteries. They're also best from a performance standpoint because it keeps the weight down low, lowers the center of gravity. Our competition is attempting to convert traditional buses, and they have a hard time doing that. They have a hard time finding a good place to put batteries. We do not. So let's talk about the batteries. Safety is important.
These batteries were designed by us for our vehicle, and they have a number of key traits that make them very suitable for this application. Safety being the most important, we've essentially wrote the book on heavy-duty EV safety. That starts with the batteries. We have by far the safest batteries in the market. They've also been demonstrated over that 50 million mi to have an extremely long life cycle. So we expect that many of our customers, in fact, most, will not need battery replacement over 12-plus years of usage. That's because of the key elements that we've designed into our battery pack. And speaking of batteries, the energy content on board is important. Take a look at that bottom line. That's our ZX5 Max product. That bus can travel 340 mi on a single charge. That covers well over 90% of all transit routes in North America.
If you were at the factory today, you had a good chance to see some of our drivetrain technology. We developed this in-house. This represents our fourth-generation drivetrain that we're shipping now to our customers. It has greater performance, higher efficiency, and importantly, better reliability, lower cost of maintenance than our competition. We own all of this design. In summary, again, let me just mention the people, right? When Phoenix acquired Proterra, what they acquired was about 300 dedicated and industry experts on producing what is our fifth-generation electric bus. That continues now with some of the synergies that we have with Phoenix going forward. That expertise can be applied to new products as well. Our differentiation with our product and the people that we have make us an outstanding investment opportunity. With that, I'll pass it to the next speaker. Thank you.
Thanks a lot, Mike. Our next speaker, Frank Lee, Chief Technology Officer of Phoenix.
Good afternoon. I'm Frank Lee. I'll quickly go through the technology and the product roadmap. First, the technology roadmap. Key takeaway, Phoenix owns all the traditional EV technologies, including eDrive, battery, high-voltage system, composite body, vehicle communication network, and control firmware. And most importantly, we are very specialized in configuration and customization of our vehicles to meet different customers, different usage requirements. But we want to stop here. We are looking into the future and the more advanced technology for our EVs. This includes autonomous driving, smarter cockpit, battery swapping, solid-state battery, fuel cell batteries. As Denton just mentioned, we produce three types of vehicles. So, this slide is for the heavy-duty EV roadmap. Key takeaway, the heavy-duty transit bus is ZX5. Michael just described this vehicle, so I'm not going to repeat those good features. So, we are looking for the future.
We're keeping improving and developing future transit buses. The list on the screen just a very small portion of the project we're doing. The 40% faster charging will be enabled by advanced design. And the shared body and the EV modules, we enhance our manufacturer's report and also reduce costs. OTA stands for over-the-air. The software way upgrading and problem troubleshooting and fixing remotely. We don't need to send the people on site to work on the buses. And autonomous driving and battery swapping. Yeah, the second slide is the mid-duty EV. We have been producing mid-duty EV for many generations. The Gen 1 or Generation 1 was produced in 2010, and the Gen 2 was in 2018. Then we had Gen 3. In this new generation, we introduced the modern batteries and the cooling system.
The cooling system enables higher performance and higher capacity, higher range for the vehicle. Before that, the Gen 1 and Gen 2 was air-cooled. So, the liquid cooling is an advancement of the technology. And then we have Gen 3.5, which we upgraded the battery for safety and for reliability. The next generation, Gen 4, is our main vehicle program. And this time, we have a brand new architecture, put the battery inside the frame. As you can tell from the picture, all other generations have a battery on the sides of the frame. And putting the battery in the frame makes the vehicle much safer. And also, we improved efficiency for this vehicle. And we have both direct drive and the EXO and the swapping. I have a video to show you how that battery swapping works in a moment.
The Gen 5 and Gen 3 in our pipeline for the future development. Gen 5 would be a scalable architecture, is a ground-up development. C2C stands for Cell-to-Chassis. We put all the battery cells directly into the chassis. This will increase the density and also capacity of the energy so we can run longer. Gen 6 will be an EV pickup. Dr. J, we talk about this vehicle right after this video for that battery swapping technology. Let's take a little bit of time to watch the video.
We have one side is an empty battery and another side is a fully charged battery. So the system takes the empty battery off the frame and then reloads the fully charged battery onto the frame. The reason we don't have a body on the top is because we want to show the details. You can see better.
And it's switching. So either side could have an empty battery, another side could have the fully charged battery. So it keeps going back and forth. I think we can move on now. Okay. Let's pass it to the next speaker.
Thank you very much, Frank. Our next speaker is Jialong Jiang, Vice President for Engineering of Phoenix.
Hello. Phoenix has intensive expertise and experience in designing, research, and development, and integrating electric vehicles. A very good example is the EdisonFuture Series electric pickup truck and delivery van that we unveiled at the Los Angeles Auto Show. This innovative design, eco-friendly, global resources, and solar roof charging solutions will make this series outstanding in the market and also capable of advanced features. Let's take a look at the video that our EdisonFuture Series pickup truck was first unveiled at the Los Angeles Auto Show.
Yeah, I remember all these used to say, "If you want to know the future of any given industry, the toy industry, the computer industry, go to one of their expos, go to one of their shows." The same applies to the auto industry, where you can get a hint of where they want to take the world and where they think you will be in this world. And for the Los Angeles Auto Show, the big theme seems to be this rage over electric cars. And doesn't Kelly O'Grady know? She's seeing it firsthand in Los Angeles. Kelly?
Kelly, you're right. I mean, the energy, the crowd, the vehicles, everything's electric here. We've got traditional car makers, new entrants all showcasing their new EV offerings. And I want to show you one of those new entrants right now. So I'm here with Jose Paul, the Chief Marketing Officer of EdisonFuture. Thanks for joining us. So you got a pickup truck here. Tell me, what's unique about this guy?
Well, when I talk about this is the EdisonFuture EV of luxury. I mean, I thought the design, we're trying to bring in something which is very modern, but at the same time, kind of keeping to the traditional characteristics of what a truck is. But yeah, I mean, we pack it with a lot of technology. And maybe we can actually go inside and.
I can zoom that up. All right. Cool. All right. So what are we looking at here? How far does this range go, by the way?
So we have three or four different options. We have one which goes up to, what, 380 mi, and then we have one which goes up to 450 mi. But yeah, I mean, inside, as you can see, it's very luxurious. Lots of space, a lot of technology. That's what we all use: the cockpit, which is going to have a lot of connected and a lot of safety features bringing it away. We also have a solar design panel right up front that's actually going to be helping power and get some additional energy from the side. But I think the best future design out there in the car is probably.
All right. Let's take the back. Talk about the pickup truck. Okay. So what are we looking at here? Tell me.
So yeah, so this, I think, is probably the most unique concept on the vehicle. So this is basically what we call the Armadillo solar roof bed cover. And actually, that added thing is actually solar panels. Then that roof is also solar panels. And this actually can give customers probably in a sunny place like California about 25 mi-30 mi in a day. So if a customer is just going and parking the vehicle at his office for 9:00 A.M. or 8:00 A.M., maybe he can actually get about 70%-80% of the daily battery power by solar. That's one of the biggest coolest features which we're bringing to the market right now.
Yeah. And so, I mean, Neil, I think that that kind of shows you. I mean, a lot of customers are having range anxiety, price, and whatnot. So maybe something like this. We'll get that 3% of electric vehicles around the road a little bit higher. Back to you.
That's a beautiful car. You know what? Kind of thinking about Tesla, they step up here and get in scale. It's got some very incredible competitors. Kelly, great. Thank you very, very much. Kelly, in Los Angeles, we've got a lot more coming up.
Thank you.
Thank you. Our next speaker, Lewis Liu, Chief Operating Officer of Phoenix.
Good afternoon. I think you have already heard about our CEO just presented on the company vision, right? My colleague talked about the market. We know the market is very attractive, and sometimes you have to go with the electric, limited supplier. You learn about the product, the product roadmap. Now, how we can make everything happen. We're going to talk about operations. Phoenix operation. Basically, how to fulfill the demand. We basically have. Here is the operation footprint in the nation. We have West Coast and East Coast with the two industrial setup and also the R&D centers. We have the customer support hubs all over the nation to support our customers. They're strategically located in the customer cluster. We are able to serve our customer better. Let's talk about the operation in transit.
So if we look here, we just merged with the Phoenix merged with the Proterra Transit. We have these five stages trying to bring two parties together. First, look at the transit operation. We intend first to convert whatever we have in the inventory, the bus already been built, and turn it into the sales. And at the same time, prepare our operation for the stabilization. So what we call that stabilization, that is trying to bring the supply chain together and go out with the supplier to renegotiate the long-term supply contracts. And also, they bring the system together to be able to support our regular operations. And after that, we're going to go into the ramping up, the production. So start from 1 bus per week to 2, 3, and 4, and get to the mass production.
So this is what we have in mind as far as the transit operation. On the other side of the house, which is the medium-duty trucks and shuttle buses, this is how we plan out for that particular operation. As Frank Lee just mentioned, currently, in that particular sector, we're focusing on the Generation 4, how we're going to deliver that vehicle, launch it, and deliver it. So we have already gone through the vehicle definition concept design, engineering design, and final engineering design. We're in the stages between design and launch the vehicle. So this is where we're at right now. As Dr. Lee just mentioned, we do whatever we can to launch it in the market to support the customer in there. So as far as the medium-duty trucks, we definitely were going to transfer some of those production into Greenville.
So we try to integrate these two operations into one. So looking at how we're going to control bringing the cost down. So this is one example of the medium-duty EV shuttle bus and trucks. So we planned the cost reduction in general 35% compared to Gen 3, Generation 3. And then we keep bringing that down once we go into the regular stabilized production. And we actually achieved that through the standardizing the configuration on the processes of the production line and also achieved the modular design and basically doing the grid kitting and the supply chain integration. And also, everything is cost-driven operation. So sometimes we call that the lean operation. This is how we were able to achieve the cost reduction, dramatic cost reduction compared to the previous generation of the vehicle. And in general, this is kind of common. People always say operation, nothing fancy, right?
So as Jialong and Frank just showed, there's some kind of fancy stuff. So we are like down to the earth. We mainly focus on the integration, on the cost, and also efficiency. This is what we're going to achieve as one team of operation of Phoenix. Now, I'm going to turn the stage to the next speaker.
Thank you very much. Our final speaker today, Michael Yung, the Chief Financial Officer of Phoenix.
Good afternoon, everybody. Let me go over our financial guidance. So I know there's a lot of questions, and then everybody's dying to go back for drinks. So I'll make it short and sweet for everyone, okay? This is a very exciting time for Phoenix Motor. We acquire Proterra in January. From them, we have achieved our first quarter revenue between $8 million-$9 million. We acquired Proterra in the middle of January, and we already start running and have everything moving fast and forward. I want to thank the team for being able to achieve this because after the acquisition, there was a lot of work involved. Everybody focused and went to work, and we were able to deliver between 8 busses-9 buses. This is our next quarter revenue. We projected to do between $14 million-$16 million revenue.
This would be a 50% growth over the previous quarter. We were able to achieve this on continued focus on what we needed to do, like everybody before me, cutting costs, ramping up production, and focus on what we needed to do to get to the next level. In summary, let me show you guys how we're going to achieve our goal and then get to the next level. Our leadership. We are the leading EV manufacturer in the United States. With the state-of-the-art technology, operating factories, service capability. Period. We currently own 40%. We have delivered over 1,000 electric buses already. Two. Best. We have the best talent and the best technology. Best-in-class production, experience in EV tech team, 55+ million proven miles, not just on the bus side. We also have another 5 million on the medium-duty trucks, as you have seen earlier. Third, revenue.
How are we going to achieve our revenue? As a couple of slides earlier, our growth is going to be driven by regulatory mandates. They are over $1 billion just in heavy-duty buses, and they are $5 billion in medium trucks. So between the federal funding and the customer's need due to regulation, our revenue is unlimited. We are currently have 150 customers, and the customers are growing by the day. Last, innovation. I'm sorry. Let me go back to the revenue a little bit. Our revenue is not just coming from the buses. Our revenue is also coming from service contracts, parts. So our revenue is not just the product itself, also contracts and parts. So we have multiple streams of revenue. Lastly, innovation. We are the technology leader. Everything we have is proprietary. We are not using other people's.
Our competitors are buying generic buses and trying to take parts and fit it in versus us. It's period. From ground up, where we put our battery, what the technology goes into, every one of our buses has what we call OTA over the air. Means that it's constantly communicating with the cloud and sending it down to our office. So it's always being monitored. That's why our technology is alive. And our service members know exactly what our bus is doing. We can head off any issues. We are the leader. We are the leader. And with self-driving AI just around the corner, this technology will be there, and we're just getting ready to implement it. So, with that said, let me hand this back to Craig.
Mike, thanks a lot. The management team wants to show you a 3-minute video before we get into the Q&A session. So enjoy the video and think up questions for the Q&A session. Just a reminder, everyone, that the buffet is open over there in the corner if you wish to have a meal. Thank you.
Synergy, it's more than just a buzzword. It's the driving force behind two pioneering companies revolutionizing electric vehicles. Meet Phoenix Motorcars, blazing trails since 2002. Phoenix has been at the forefront of medium-duty electric vehicles, offering an impressive array of shuttles, flatbeds, utility trucks, and more. With over 5 million mi already driven, we've proven electric vehicle reliability and our commitment to sustainability. Thanks to our dedicated team and cutting-edge technology, we're proud to offer vehicles with up to 141 kWh and 150 mi of range built on the reliable Ford E-450 chassis. And then there's Proterra. Established in 2004, Proterra had become synonymous with heavy-duty electric transit buses, serving over 135 customers and delivering over 1,000 buses in North America. With over 50 million mi driven, Proterra's commitment to innovation and sustainability is unmatched.
Now, witness the power of synergy as Phoenix Motorcars unveils its new branding, Phoenix EV, combining the strengths of both companies into one dynamic force. From medium-duty vehicles with over 20 years of experience to Proterra's groundbreaking ZX5, boasting up to 738 kWh and 340 mi of range, Phoenix EV offers unparalleled solutions for a sustainable future. Trading on NASDAQ as PEV, Phoenix EV is poised to lead the charge in commercial electric vehicles with plans to expand into light-duty trucks and integrated solar technology. Join us as we pave the way for a greener, more efficient tomorrow. Phoenix EV, driving innovation, electrifying the future.
Now we are moving to your questions. If you're in the audience here in Greenville and have a question, just raise your hand. I'll approach you with the microphone, and you can speak to the management team. For those of us joining by Zoom, you will use the Q&A button at the bottom of your Zoom window. Type it in, and we will read your question aloud. So a lot of members here in Greenville are thinking of a question. We have been receiving questions via Zoom. One of them has to do with patents, generally. What patents does Phoenix Motor have? What has it filed for its innovative features? And how do those contribute to the company's competitive advantage?
Yes. I think Phoenix EV patent have included two portions. One is from the Proterra ZX patent. So I think maybe later on, Mike can share a little bit the detail. And also, patent we do from the medium-duty side. A lot of patent we have already done. So this is also another sector. So maybe first, maybe Mike can share a little bit about the patent on the bus side.
Yeah. On the transit bus side, I'm not sure of the exact number. I think Phoenix probably acquired over 50 individual patents somewhere in that neighborhood. And many of those, you saw in my presentation, they're around the idea of the composite body, battery placement within the composite body, a lot of drivetrain technology, controls technology, battery usage, and efficiency technology. So a lot of the elements that result in our bus being better than the competition are protected with intellectual property.
Thank you very much, Mike. Roger, you have a question for the team.
Yeah. We was visiting the facility this morning, and it's a pretty good experience for us. And I was asking what could be the production capacity for the facility here in Greenville. And I heard that you also have the facility over there in California, right? And I learned from your presentation today, and the future marketing demand is much higher. About the $multi-million value, right? And it's mandatory, right? So is current production capacity good enough for the future production, or you will have a better, bigger facility for the future?
I'm trying to answer that question. Yes. Those of you that came to our factory today, and what you saw today is capable of building about 220 buses per shift. So that means over 600 buses per year if we're on a three-shift strategy. Right now, we're running one shift. The expectation is there's more than enough demand for us to increase that. And we already have plans to be able to implement a second and then a third shift. Ultimately, there's far more demand than likely that one factory can support. So I do expect that we would want to expand beyond the factory that we have now. And you're right. There's many cities around the country and around North America that are implementing mandates on when they must transition. And believe me, it's happening fast. They have to start moving fast.
Today, there's somewhere in the neighborhood of 3,000 busses or 4,000 buses expected to be ordered, zero-emission battery electric buses ordered this year. We expect that number to go up pretty significantly each year. There's plenty of demand and not very many people doing it.
I just want to add to what Mike just said. On the medium-duty side, one of our strategies is to have a very distributed manufacturing facility. Along with the brand new vehicles we manufacture, we also make drivetrains. And we are able to sell these drivetrains to other fleet partners who can actually electrify their vehicles in a distributed fashion. So our team currently is speaking to potential partners in New York, potential partners in Canada, in St. Louis. And these are large fleets sometimes, or sometimes they're large dealers. And we are working on a program where we can actually provide them kits with which they can electrify existing vehicles. So that's another way we are trying to meet the demand.
Thanks again. Thank you again for that, Roger. We had another submitted question. It has to do with those solar panels that Neil Cavuto sort of made a remark about in the Fox segment there. I saw it today. We all saw it. Those of us who were in Greenville saw it today on the top of that bus. So this person wants to know, how does the incorporation of solar technology into Phoenix's vehicles enhance sustainability and energy efficiency? I know we've gone over that, but if you could just continue to elaborate on that.
So I guess in the future, series pickup truck have a solar panel on top of the roof of the pickup truck and the rear van. So we have a sister company called Solar 4 America, which is dedicated working on solar part of business. So we are kind of doing cooperative work on this part of the project. So basically, what we are doing right now is trying to top up our batteries by the daily usage scenario. So this vehicle currently equipped with about five square meters of solar coverage areas on top of the vehicle as of right now.
Do you want to add anything more?
I can ask you something.
Okay.
I think in addition to what Dr. Jiang says, I think the key is grid resilience. The biggest problem we have towards switching to electric is the amount of power which is available on the grid and the ability for fleets to charge, particularly individuals who are living in houses and apartments. The ability to kind of charge daily in a sustainable manner is still a challenge. If we are able to successfully incorporate these solar panels onto vehicles, it reduces that problem a lot. Most people who drive only 20 mi, 30 mi would not have to charge their vehicle every night, which is when peak demand is. That's where we are hoping this can actually make a significant change in the way people adopt electric.
Just to focus on what that reporter was saying, it's conceivable that on a sunny day, the person in the truck could get pretty much as much charge as he needed. For how long? On a nice sunny day, 9 hours out in the sun?
About 20 mi-25 mi, which is about 70%-80% of the average commute in the U.S. Somebody who is driving to work, parking the vehicle out, and finished work and getting out after nine hours, you'll probably have a fully charged vehicle at the point.
Anyone wants to raise their hands? We are continuing to get these submitted questions. Thank you very much to our online participants. We had Mike talking justifiably, proudly about the in-house talent. What about partnering with other industry experts? How does Phoenix do that, and what can you get out of that?
Yeah. You want to talk?
That's something which it's a very interesting question because I think if you had looked at potentially partnering with other technology suppliers three or four years back, it would have been a lot more difficult. But given the fast-changing landscape, given the amount of consolidation which is happening in this market, companies are a lot more open. We are constantly in touch with our fellow competitors in the space with potential technology players on the drivetrain side, on the battery side, on the innovative, advanced driving features to see how we can incorporate all of these technologies. The idea is not for 100 companies to spend $1 billion each to figure out who makes it better. The idea is for all of us to come together and make the transition to zero-emission vehicles more seamless.
During the factory tour today, something that struck me was how custom-driven the buses are. No company's buses are alike almost, correct me if I'm wrong. Some of those companies have experts, and they know what they want out of their bus. You can subtly design according to their specifications, right?
That is correct. Yes. And Mike, if you want to elaborate on, I think, Mike can talk a lot more eloquently about how we address all the different challenges and the different customization which our customers require on the transit bus side.
You covered it well.
Okay. Yeah. The idea is, I mean, it is something which it's almost like building a plane. Every single fleet out there has different specifications. Our engineering team is attuned to take those requirements and convert them into a meaningful, workable production plan where we are able to produce these vehicles which are customized and also service them in the field. And that's been one of the some people look at it as a challenge, but I think we have made it our strength. And that's what differentiates us.
Speaking of differentiation, this person writes in and I know we have been covering how we're different, but let's go into more detail. This person wants to know, how does Phoenix differentiate its electrification solutions from competitors in the commercial vehicle industry? Just more detail on that subject, please.
Sure. I think on the transit bus side, right from the get-go, we are not looking at electrifying an existing CNG or a diesel vehicle. It's a purpose-built product, and there aren't any other like that. Mike talked about it. We have a composite body. We have purpose-built design where the batteries go. And it is all focused on having the most efficient vehicle out there. And that's been a huge differentiator for us. On the medium-duty side, our approach has been we've been very cognizant of the fact that it's a very nascent market. And the goal has been to kind of provide electrification services in a way where fleets can get vehicles which are very similar to the existing vehicles. So what we do is we actually electrify existing Ford chassis. So we use all the good parts of our E-450 chassis, and we electrify that.
We're able to provide a wide range of solutions on that one chassis. Going forward, as the market matures and its volume grows, as Dr. Frank Lee mentioned here, we would have our fifth-generation product, which would be a ground-up product for the medium-duty vehicles. But I think those two specific approaches on how we electrify each of these markets is what really differentiates us. And of course, the amount of talent we have. Mike talked about close to 300 people who have pioneered this industry. And they have the most experience, and they have the best relationships, and they know how to innovate with a product like this. And I don't think any other company has that amount of capability. And I think when it comes to the bottom of it, I mean, it's really the people who make all the difference here.
Thank you very much, Joseph. A participant online really liked that battery-swapping technology and wants to know, is it patent-protected?
It is not as yet. You talked about partnering with other companies. We have developed this, and we have made this work for our product by partnering with other companies. Our goal, again, is not to have a long list of patents, but it's to kind of provide solutions in a way which is workable for customers while being very efficient with the funds we have. So it's not patent-protected, but it's the first of its kind in the U.S. market.
Another participant wants to know about the design of the bodies, that weight-saving feature. He just wasn't clear enough on it. Could someone from the management team provide more details on the advantages, the strengths of that design? Thanks.
Sure. Yeah. The composite body saves about 2,500 lbs, 2,500 lbs, over a traditional structure. So what that does is it allows for us to offset some of the additional weight from batteries. Batteries are relatively heavy, so you have to offset that weight.
Thank you very much, Mike. Okay. Again, here's your opportunity to speak to the management team. Just raise your hand, and I'll give you the microphone. Otherwise? Otherwise, once again, we're going to invite you to take a meal. Right over there in the corner is the buffet, some delicious food right there if you would like it. And please feel free to mingle with management. But before we go, since we have our viewers online, let me give you some more ways to get more information about Phoenix. You can call us, RedChip, at 1-800-REDCHIP. That's 1-800-733-2447. Or send us an email at pev@redchip.com. Please also visit RedChip's investor information page, created specially for Phoenix. It's redchip.com/stocks/pev. There you can sign up for investor alerts. You can download the deck. You can download our fact sheet on the company. Very good page. Well worth a visit.
And of course, you can view an archived version of today's webinar. If there's anything you want to go over, just go to redchip.com/events. That's redchip.com/events, and scroll down to the archive. And that is it. Thank you for our in-person participants today and for our online viewers. Thank you very much from Phoenix Motor.