MESA, Ariz., Aug. 31, 2021 /PRNewswire/ -- Atlis Motor Vehicles (ATLIS), a startup mobility technology company, just announced the launch of a $5 million equity crowdfunding campaign pursuant to Section 4(a)(6) of the Securities Act. This round prices the company's shares of common stock at $12.74 per share, and the minimum investment is $254.80. This offering is conducted in conjunction with KoreConX, and investors can immediately purchase shares of ATLIS through the company's website on https://investinatlismotorvehicles.com/.
ATLIS is developing its own electric vehicle battery cells and packs to power 300, 400, and 500-mile range batteries for the ATLIS XP platform and XT pickup truck that will debut in 2022. ATLIS plans to commercially launch the next generation AMV battery cell in Q4 2021.
The XT pickup truck is targeted at commercial users in the agriculture, construction, service, and utility industries. The vehicle is being developed to meet the size, refueling, towing and payload capabilities of conventional diesel-powered pickup trucks.
The XT will be built on a modular XP platform that enables ATLIS to produce vehicles in other configurations, such as emergency vehicles, delivery vans, or box trucks. The "skateboard" architecture features a drive module that is scalable up to a 10,000-pound capacity per axle without requiring hardware upgrades. Each module contains brake, drive, suspension, and steering systems that all use drive-by-wire technology.
ATLIS will use the funds raised to:
- Recruit engineers for battery team expansion
- Purchase additional battery testing and validation equipment
- Purchase raw materials for battery production
- Continue production-level design for the XP platform
- Expand sales and marketing initiatives
To invest in ATLIS, please visit https://investinatlismotorvehicles.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.
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