Atlis Motor Vehicles Challenges Biden-Harris Admin’s Blueprint to Decarbonize America’s Transportation Sector: More Support Needed for Those in Rural Communities

Rhea-AI Summary

Atlis Motor Vehicles (Nasdaq: AMV), an electric vehicle technology company, welcomed the Biden-Harris administration's National Blueprint for Transportation Decarbonization. The blueprint emphasizes decarbonization efforts and suggests focusing on proven technologies for cleaner heavy equipment. CEO Mark Hanchett advocates for minimizing investments in alternative fuels and prioritizing technologies that enhance public health and energy security. He believes the private sector should lead advancements in clean transportation. Atlis aims to develop electric work trucks and plans to leverage its unique position as the only US-owned battery manufacturer to meet industry demands.

Positive

• Support from the Biden-Harris administration's National Blueprint for decarbonization.
• Focus on proven technologies aligns with Atlis's strategic goals.
• Unique position as the only fully US-owned battery manufacturer.

Negative

• None.

MESA, Ariz., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Atlis Motor Vehicles (Nasdaq: AMV), a vertically integrated electric vehicle technology ecosystem company, and the first battery manufacturer to be fully owned and operated in the US, today released the following statement after the Biden-Harris administration issued the first-ever U.S. National Blueprint for Transportation Decarbonization, developed by the US departments of Energy, Transportation, Housing and Urban Development, and the Environmental Protection Agency outlining plans to decarbonize transportation nationwide.

Mark Hanchett, Atlis Motor Vehicles’ Founder and CEO, said:

“After reviewing the Blueprint, we believe investments in alternative fuels and hydrogen should be minimized, and more focus should be placed on proven technologies with tremendous growth potential. Additional resources should be concentrated toward funding companies in industries focused on the development of cleaner heavy equipment, especially for those in rural communities across America. The team at Atlis Motor Vehicles would be happy to discuss such innovative recommendations with officials, as Atlis is committed to increasing the nation’s energy security, improving public health, and advancing the administration’s clean transportation agenda.”

“The Government plays an important role in fostering environments in which businesses may thrive and develop cutting-edge solutions to push our nation forward in its quest to decarbonize and become energy independent. Hopefully, this blueprint will successfully drive attention and resources towards the advancement of new technology, though I believe this effort should be led from the private sector.”

About Atlis Motor Vehicles

Atlis Motor Vehicles (Nasdaq: AMV) is a startup EV ecosystem technology company developing products that will power work and the first battery manufacturer to be fully owned and operated in the US. Building an electric vehicle technology platform for heavy and light duty work trucks used in the agriculture, service, utility, and construction industries, Atlis intends to meet the towing and payload capabilities of legacy diesel-powered vehicles by developing battery technology and a modular system architecture capable of scaling to meet the specific needs of the all-electric work vehicle. For more information, visit www.atlismotorvehicles.com.

Forward Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding financial and operating outlook, amount of reservation interest and related potential sales, future capital expenditures and other operating expenses, expectations and timing related to product launches, production and delivery volumes, the range and performance of the XP platform and XT truck, estimates of the length of time its existing cash, cash equivalents and investments will be sufficient to fund planned operations, plans and expectations regarding its future capital raises and funding strategy, the timing of deliveries, future manufacturing capabilities and facilities, ability to mitigate supply chain and logistics risks, ability to vertically integrate production processes, future sales channels and strategies, future market launches and international expansion, the potential success of our go-to-market strategy and future vehicle programs, and the promise of the electric vehicle battery technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Atlis and Atlis management. These forward-looking statements are subject to a number of risks and uncertainties, including all of the risk factors stated under the heading “Risk Factors” in our Post-Qualification Amendment No. 11 on Form 1-A POS (“Form 1-A”) filed with the SEC on September 22, 2022, as well as other documents Atlis has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Atlis's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks of which Atlis does not currently know or that Atlis currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Atlis's expectations, plans or forecasts of future events and views as of the date of this communication. Atlis anticipates that subsequent events and developments will cause Atlis's assessments to change. However, while Atlis may elect to update these forward-looking statements at some point in the future, Atlis specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Atlis's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:

AMV Contact-
Mary Trout
Atlis Motor Vehicles
info@atlismotorvehicles.com

FAQ

What is the significance of the National Blueprint for Transportation Decarbonization for Atlis Motor Vehicles (AMV)?

The National Blueprint emphasizes decarbonization, aligning with Atlis's goals for developing electric vehicles and prioritizing proven technologies.

How does Atlis Motor Vehicles (AMV) plan to contribute to cleaner heavy equipment?

Atlis aims to focus resources on developing cleaner technologies for heavy equipment, especially for rural communities.

What is the strategic position of Atlis as a battery manufacturer in the electric vehicle market?

Atlis is the first battery manufacturer fully owned and operated in the US, aiming to meet the demands of electric work vehicles.