Pioneer Power Solutions Gets $5 Million Order For EV Bus Chargers; Shares Rise

MT Newswires Live06-07

Pioneer Power Solutions (PPSI) said Friday it has obtained an order of more than $5 million for its e-Boost mobile electric vehicle charging equipment from a major US metro transit authority.

The company said it expects to deliver and commission the order in Q4.

The contract covers the purchase, installation and maintenance of four e-Boost mobile units in two transit depot locations to enable charging of EV buses, Pioneer said.

Pioneer said that with the order and its backlog, its eMobility business unit is expected to surpass the guidance of $10 million in revenue of mobile EV charging solutions in 2024, the firm said.

The company's shares were rising past 14% in recent trading.

Price: 3.88, Change: +0.49, Percent Change: +14.45

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