Atlis Motor Vehicles Expands Executive Team, Welcomes Srinivas Jasthi as Vice President of Software

Rhea-AI Summary

Atlis Motor Vehicles (Nasdaq: AMV) announced the appointment of Srinivas Jasthi as Vice President of Software on March 30, 2023. With over 30 years of experience from industry leaders like Amazon and DaimlerChrysler, Jasthi will spearhead the development of integrated cloud services for Atlis Energy products. His addition aims to strengthen company leadership and enhance product delivery, ultimately driving shareholder value. The founder and CEO, Mark Hanchett, expressed confidence that Jasthi's expertise will lead to innovative solutions within the electric vehicle market.

Positive

• Appointment of Srinivas Jasthi is expected to enhance leadership capabilities.
• Jasthi brings 30 years of experience from major companies, indicating a strong management addition.

Negative

• None.

MESA, Ariz., March 30, 2023 (GLOBE NEWSWIRE) -- Atlis Motor Vehicles (Nasdaq: AMV), a vertically integrated electric vehicle technology ecosystem company, and US based battery cell manufacturer, announced today the addition of Srinivas Jasthi to its leadership team, further bolstering the strength and effectiveness of AMV management as they focus on product delivery and driving value for shareholders.

As Vice President of Software, Mr. Jasthi will oversee development of future integrated and connected cloud service systems, as well as in-house services, mobile, and cloud payment services for Atlis Energy products. With 30 years of experience leading teams at Shutterfly, BASELAYER, Amazon, AIG, Pitney Bowes, DaimlerChrysler and more, the team is confident his guidance and vision will lead to the delivery of cutting-edge solutions for customers in the Company’s intended market segment.

"With a track record of success and deep understanding of software development, Srinivas Jasthi’s leadership will be invaluable as we continue to develop and deliver new products that meet the needs of our customers,” said Mark Hanchett, Founder and CEO of Atlis Motor Vehicles. “I’m proud to welcome such a well-established innovator to the Atlis Motor Vehicles team as our Vice President of Software.”

About Atlis Motor Vehicles 

Atlis Motor Vehicles is a technology company driving cutting-edge innovation in electrification and infrastructure. 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," “contemplate,” "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, regulatory challenges, growth rate projections, intellectual property protections, 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 Annual Report on Form 10-K filed on March 16, 2023, 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: 

Mary Trout 
Atlis Motor Vehicles 
info@atlismotorvehicles.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c89b6dc9-e8e1-497f-9c9b-9100d2384d40

FAQ

What is the significance of Srinivas Jasthi's appointment at Atlis Motor Vehicles?

Srinivas Jasthi's appointment as Vice President of Software is significant as it aims to bolster the leadership team at Atlis Motor Vehicles, enhancing their focus on product delivery and shareholder value.

What experience does Srinivas Jasthi have that benefits Atlis Motor Vehicles?

Srinivas Jasthi has over 30 years of experience in software development, having held leadership roles at companies like Amazon and DaimlerChrysler.

What will Srinivas Jasthi oversee at Atlis Motor Vehicles?

Srinivas Jasthi will oversee the development of integrated cloud service systems, mobile, and cloud payment services for Atlis Energy products.

How does this leadership change affect shareholders of AMV?

This leadership change is expected to drive value for shareholders by improving product delivery and innovation in the electric vehicle sector.

When was Srinivas Jasthi appointed Vice President of Software at Atlis Motor Vehicles?

Srinivas Jasthi was appointed Vice President of Software on March 30, 2023.