Atlis Motor Vehicles in Mesa Launches IPO on Nasdaq Exchange

Mesa-based electric vehicle (EV) company Atlis Motor Vehicles (Atlis) announced that it has begun trading on the Nasdaq exchange under the symbol “AMV.”

Atlis was able to raise more than $35 million through Reg A and Reg CF crowdfunding offerings, allowing the startup to be one of the few companies to go public through Reg A financing. 

“We are incredibly gratified to have reached this milestone in partnership with our pre-public investors, many of whom have been invested in the Company since its inception,” says Atlis CEO Mark Hanchett. “We now enter this exciting next phase of development for Atlis, in which we have achieved the milestone of becoming a publicly listed company, and now look forward to executing on an ambitious business plan to achieve revenue and profitability in an exciting and emerging market with significant opportunities to differentiate ourselves and tremendous potential to create, maintain and increase shareholder value.”

The mobility technology company develops electric products and vehicles that power the hard workers of today and the future, and is the only EV company in the U.S. to develop its own electric vehicle battery and share it with other companies. 

The electric vehicle battery, XP, is able to power medium to heavy-duty electric vehicles, making Atlis’s mission of electrifying the world of hard work a reality. The XP battery system supports a wide range of electric vehicle configurations, from work and delivery trucks to RV’s and buses, to first responder vehicles and more.  

The company’s primary vehicle model, the XT, is the world’s first medium- to heavy-duty work pickup truck. Designed in Arizona and powered by the XP battery system, the XT is built to be used in the agriculture, service, utility and construction industries.

With its proprietary battery technology and electrification solutions, Atlis is paving the way to electric vehicles that can perform at the same level of those powered by diesel. However, the EV company also is working to charge communities and specific industries more sustainably with fast-charging battery packs, megawatt charging systems, commercial and residential smart energy storage systems, and more. 

Click here for more information.

Total
1
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts