Atlis Motor Vehicles Inc.: Atlis Motor Vehicles Announces Initiation of Trading on Nasdaq Exchange

MESA, Ariz., Sept. 27, 2022 (GLOBE NEWSWIRE) -- Atlis Motor Vehicles (Atlis), a vertically integrated work-focused EV technology ecosystem and battery company developing an electric work truck and the batteries to power it, announces today that it has begun trading on the Nasdaq exchange under the symbol "AMV."

Atlis is among the few companies that has executed its initial public listing through a Reg A financing after raising more than $35M through Reg A and Reg CF crowdfunding offerings.

Of the EV companies in the United States - both utility and passenger - only Atlis develops its own batteries and offers that technology to other companies. The Company's primary vehicle model, the XT, is built upon an electric vehicle technology platform, the XP Platform, designed for heavy and light duty work trucks for use in the agriculture, service, utility, and construction industries. It is designed to meet the towing and payload capabilities of legacy diesel-powered vehicles. The XP Platform utilizes a unique "skateboard" approach on which the different types of work vehicles can be custom built to the specifications of the customer. In addition, the recently passed Inflation Reduction Act provides tax incentives for Companies that use U.S.-built battery packs, which Atlis strives to produce.

"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," commented Mark Hanchett, Atlis's CEO. "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."

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

All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "could," "believe," "anticipate," "expect," "project," "will," "estimate" and other similar expressions. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Factors that could materially impact such forward-looking statements include, but are not limited to, those set forth from time to time in our filings with the SEC. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

CONTACTS:

Corporate Contact:
Mary Trout
Director, Marketing & Communications
Atlis Motor Vehicles
[e-mail]

Investor Contact:
Scott Arnold
CORE IR
[e-mail]

Media Contact:
Jules Abraham
CORE IR for Atlis Motor Vehicles
[e-mail]