ATIF's Investment in Mexican EV Company Sees Rapid Growth in Product Orders Due to Spike in Gas Price
ATIF Holdings Limited (Nasdaq: ATIF) announced strong growth in electric vehicle orders from its client Solarever Ltd., a Mexican solar and EV company, amid rising gasoline prices. ATIF holds a 5.25% equity stake in Solarever, which has reported brisk sales for its EV, the SEV e-Wan, priced from $14,500. This interest is driven by consumer demand for alternatives to high gas prices, currently averaging $4.07/gallon in the U.S. and over $5.00 in California. The company's CEO expressed optimism about Solarever's potential and ongoing IPO process, indicating strong returns for ATIF shareholders.
- ATIF holds a 5.25% equity stake in Solarever, indicating a direct benefit from its growth.
- Solarever's SEV e-Wan has received notable customer interest and purchase orders.
- Rising gasoline prices are driving consumer demand for electric vehicles, creating a favorable market environment.
- None.
IRVINE, Calif., Aug. 10, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company," "ATIF" or "We"), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that the Company's IPO advisory services client and investment holding in Solarever Ltd.("Solarever"), a Mexican solar energy and electric vehicle company, has seen rapid growth in its recent electric vehicle orders. Based on the investment agreement between Solarever and the Company, ATIF holds a
The high climb in global crude oil prices this year has led to a subsequent spike in the price of gas, creating a strong consumer interest in electric vehicles. According to the American Automobile Association ("AAA"), the state gas price averages in U.S. is
Solarever is the leading designer and manufacturer of solar products in Mexico, including photovoltaics (PV) panels, energy storage systems, electric vehicles (EV), and other zero-emission solutions operating in solar and electric vehicle sectors. Solarever is the first and currently only domestic electric vehicle company in Mexico that has been granted electric vehicle safety certification and an EV dealer's license. Solarever launched its first EV, the SEV e-Wan in 2022 which has garnered sizable customer interest and purchase orders in Mexico. The SEV e-Wan starts at
Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We highly believe in Solarever's growth potential, based on our strong view of the future of the sustainable energy industry. Solarever is one of the leading players in the solar PV industry and is also active in the electric vehicle industry, which has significant growth potential. According to the International Energy Agency (IEA), EV makers plowed through rising prices and broken supply chains to sell 6.6 million electric vehicles in 2021, doubling global sales and tripling the EV market share in just two years. From what we understand, Solarever's recent electric vehicle sales have been brisk and purchase orders are growing rapidly! At the same time, Solarever's IPO process is steadily progressing and we are very excited to see the high returns that this investment will enable us and our shareholders to achieve in its future IPO."
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a Los Angeles-based comprehensive financial group with wholly owned and operated subsidiaries: ATIF-1 hedge funds company, ATIF equity investing company, ATIF IPO advisory company, and the integrated financial services network platform www.IPOEX.com. ATIF is dedicated to providing international asset securitization services, as well as equity investment and asset management services to companies around the world. ATIF was awarded the "Top 10 Best Listed Companies 2019" from the "Golden Bauhinia Award," the highest award in Hong Kong's financial and securities industry. For more information, please visit https://ir.atifchina.com/.
To learn more about IPOEX, our financial services platform, please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division, please visit https://nftdpo.com/.
Follow ATIF on Social Media:
Forward-Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients, complete projects for clients, and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company's ability to continue successful development and launch of its NFT collection; the possibility that the Company may not succeed in developing its NFT platform and business due to, among other things, changes in the business environment, competition, changes in governmental regulation, or other economic and policy factors; the ability of the Company to continue compliance with the development of applicable regulatory regulations in connection with blockchain, digital assets and the NFT industry; the possibility that the Company's ongoing NFT services may be adversely affected by other economic, business, and/or competitive factors; and other factors listed in the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.
View original content:https://www.prnewswire.com/news-releases/atifs-investment-in-mexican-ev-company-sees-rapid-growth-in-product-orders-due-to-spike-in-gas-price-301603341.html
SOURCE ATIF Holdings Limited
FAQ
What is ATIF's investment in Solarever?
How is rising gas prices affecting Solarever's orders?
What is the price of Solarever's SEV e-Wan electric vehicle?
What are the recent trends in electric vehicle sales according to ATIF's CEO?
What is the current average gas price in the U.S. according to the press release?
