[5] The company was founded in 2002 and became a wholly owned subsidiary of Al Yousuf LLC in 2009 and of EdisonFuture in 2020.

[7][8] On March 19, 2008, Phoenix Motorcars announced that it had completed a financing and restructuring, with Dubai, United Arab Emirates-Al Yousuf LLC, and Arlington, Virginia-based AES Corporation, as new investors, the departure of the Phoenix Motorcars’ original founders and the appointment of a new board of directors.

[10] This led to another restructuring of Phoenix Motorcars in less than 2 years, with the company switching its focus to its 3rd generation drive system targeted for buses and trucks on the Ford E350/E450 cutaway chassis.

[5] This product achieved California Air Resources Board (CARB)[12][13] certification in July, 2014 in the 10,001–14,000 pound GVWR range.

[14] Phoenix launched its electric Flatbed in 2015, which is also based on the Ford E350/450 Series, with 100 mile range per charge.