Shares Buck Market Trend as EV Company Gains Contract

By: Dylan Sikes – AllPennyStocks.com News

Thursday, May 5, 2022

The first deliveries of Ford’s F-150 Lightening truck are expected today—and dealerships will need chargers. This company just signed a purchase order to provide chargers for a major dealership in Pennsylvania.

Technology firm mPhase Technologies, Inc. (OTC Pink: XDSL) is developing the mPower EV+ (electric vehicle) charging network and consumer engagement platform. Per the company’s press release, mPhase signed a purchase order with Shelly Electric Co., Inc. for two 120KW level 3 DC fast chargers for a Pennsylvania-based Ford dealership. The company is also expected to include level 2 chargers in the future.

Ford is one of the major car companies in the process of transitioning its fleet to electric vehicles—requiring an increasing number of charging units on premises at dealerships. The mPhase installation will mark a number of firsts, including entry into the Pennsylvania market, the Company’s initial level 3 charger sales, and the beginning of a targeted entry into the auto dealership vertical.

Shares were trading up 2.55% in morning trade.

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