MESA, Ariz., Jan. 27, 2022 /PRNewswire/ -- Atlis Motor Vehicles (ATLIS), a startup mobility technology company, today announced the launch of a $10 million Regulation A offering pursuant to Section 401 of the Jumpstart Our Business Startups (JOBS) Act. This offering prices the company's shares of common stock at $15.88 per share. Investors can immediately purchase shares of ATLIS through the company's website - https://investinatlis.com/.
In 2021, ATLIS revealed the functional prototype XT pickup, a purpose-built 100% electric truck designed to power work. This is the first electric work truck in development with a 300, 400 or 500-mile battery that will charge in less than 15 minutes utilizing an ATLIS Advanced Charging Station. The XT pickup will be powered by ATLIS's proprietary AMV cube battery cell, the first of which was produced in 2021.
The XT pickup is targeted at commercial users in the agriculture, construction, service, and utility industries and is being developed to meet the size, refueling, towing and payload capabilities of conventional diesel-powered pickup trucks. ATLIS currently has over 50,000 non-binding reservations for its XT Truck in addition to the Australian Manufactured Vehicles contract for 19,000 trucks over the next four years.
ATLIS also is developing a modular XP platform, a "skateboard" architecture which uses fully drive-by-wire technology and is scalable up to a 10,000-pound capacity without requiring hardware upgrades. The highly customizable XP platform will enable ATLIS to produce vehicles in multiple configurations, including pickup truck, emergency vans, delivery vans or box trucks.
Production of the XP and XT is slated to begin in late 2022.
In 2021, ATLIS expanded its reach to work with more businesses that will help it deliver its battery technology. Notable agreements and strategic collaborations include:
- A strategic collaboration with EAVX, a subsidiary of JB Poindexter & Co., to develop electric commercial work trucks
- An agreement with Schwab Industries as a manufacturing partner for body-in-white
- A contract with Australian Manufactured Vehicles to buy over 19,000 XT pickups in Australia
- A strategic partnership with Li-Cycle to recycle lithium-ion batteries
ATLIS will use the funds raised from this Regulation A+ offering to:
- Recruit and retain engineers with the goal of doubling the workforce in 2022
- Purchase additional battery testing and validation equipment to ramp up for full-scale production and the delivery of battery cells and packs to customers in the first half of this year
- Complete production-level design for the XP platform and XT pickup
- Expand sales and marketing initiatives
Those who would like to learn more about this unique investment opportunity can visit https://investinatlis.com/, which contains important information and disclosures, including the offering statement. Limited shares are available.
About ATLIS Motor Vehicles
ATLIS is a mobility technology company developing products that will power work. The ATLIS innovators are building an electric vehicle technology platform for heavy and light duty work trucks used in the agriculture, service, utility, and construction industries. To meet the towing and payload capabilities of legacy diesel-powered vehicles, ATLIS is developing proprietary battery technology and a modular system architecture capable of scaling to meet the specific needs of the all-electric vehicle. For more information, visit www.atlismotorvehicles.com.
Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guaranteeing of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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SOURCE Atlis Motor Vehicles (ATLIS)
