Atlis Motor Vehicles Enters Mass Production Trial of AMV Battery Technology

Rhea-AI Summary

Atlis Motor Vehicles (Nasdaq: AMV) has commenced trial mass production of its battery technology in Mesa, Arizona. This initiative is crucial for the final development stage of their battery manufacturing process, aimed at enhancing efficiency and quality. David Apps, VP of Operations, expressed confidence in meeting customer demands at scale. Upon successful trials, the company plans to confirm quality and accelerate its first manufacturing run for delivery. This step is essential for Atlis as it seeks to position itself in the electric vehicle market, specifically targeting heavy-duty work vehicles.

Positive

• Initiation of trial mass production of battery technology.
• Focus on enhancing manufacturing efficiency and quality.
• Promotion of electric vehicle technology tailored for heavy-duty work sectors.

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• None.

MESA, Ariz., Nov. 15, 2022 (GLOBE NEWSWIRE) -- Atlis Motor Vehicles (Nasdaq: AMV), a vertically integrated electric vehicle technology ecosystem company, today announces it has begun trial mass production of its battery technology. The mass production trial is designed to ensure the Company’s manufacturing process is executed efficiently to run at rate and confirm quality as they work to scale battery manufacturing in Mesa, AZ. This trial is the final stage of battery cell manufacturing process development for the Company.

“This mass production trial is an essential part of our manufacturing development and ramp up process. This process allows Atlis to establish confidence in our ability to meet the needs of our customers at the scale they require,” stated David Apps, Atlis Motor Vehicles’ VP of Operations. “We look forward to keeping our shareholders updated on relevant developments with regard to this manufacturing run and future order fulfilment.”

Following a successful mass production trial, the Company will complete its quality confirmation to ensure consistency and rapidly ramp up to complete its first manufacturing run for delivery to customers.

About Atlis Motor Vehicles

Atlis Motor Vehicles (Nasdaq: AMV) is a startup EV ecosystem technology company developing products that will power work. 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:
PRESS-
Jules Abraham
CORE IR
pr@coreir.com

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

FAQ

What is the latest news about Atlis Motor Vehicles (AMV)?

Atlis Motor Vehicles has begun trial mass production of its battery technology to ensure manufacturing efficiency and quality.

Why is Atlis Motor Vehicles starting a mass production trial?

The mass production trial is the final stage in the battery cell manufacturing process, essential for scaling their battery production.

How will the mass production trial impact Atlis Motor Vehicles' operations?

The trial aims to establish confidence in production capabilities to meet customer demands and ensure timely delivery.

When did Atlis Motor Vehicles announce the start of the mass production trial?

The announcement was made on November 15, 2022.

What does Atlis Motor Vehicles aim to achieve with its battery technology?

The company aims to develop a technology platform for electric work trucks that meets or exceeds the capabilities of diesel-powered vehicles.