Stock Alert: SPI Energy Surges 62% After Deal With China's Shaanxi Tongjia

(RTTNews) - Shares of SPI Energy Co., Ltd. (SPI), a provider of photovoltaic and electric vehicle solutions, are gaining more than 61 percent or $4.42 in Thursday's morning trade at $11.60.

SPI Energy said Thursday that its unit EdisonFuture Inc. agreed with Shaanxi Tongjia Automobile Co., Ltd., a manufacturer of all-electric logistic vehicles in China, to make and sell a new generation of smart electric pickup trucks and electric logistics vehicles. Tongjia will supply parts and support to EdisonFuture's assembly facility in Fresno, California, where EdisonFuture will complete assembly of the vehicles.

EdisonFuture will also be the exclusive North American distributor of all-electric "last-mile" delivery box trucks and pickup trucks currently produced by Tongjia.

SPI Energy has traded in a range of $0.55 to $46.67 in the past 52 weeks.