Atlis Motor Vehicles, a mobility technology company, announced plans May 4 to apply to be listed on the Nasdaq composite index, the major U.S. stock market.
Mesa, Arizona-based Atlis said in a release and during a press conference that the company anticipates it will be accepted by the stock market this summer. Investors will be able to trade shares of the company’s stock as Atlis develops technology to further encourage and enable the mass adoption of electric vehicles, according to the company’s release.
Atlis is developing an electric work truck for individuals and fleet owners who work in the agriculture, service, utility, and construction industries., along with the batteries and motors to drive it.
“From inception, we’ve had an unwavering commitment to produce an electric truck that does not compromise performance or durability. By going public, we will unlock the capital needed to succeed,” said Mark Hanchett, Atlis founder and CEO. “This new funding will allow us to continue to scale operations to produce state-of-the-art batteries, platforms, and pickups needed to advance the work truck market.”
Investors may continue to purchase shares of Atlis through the company’s Regulation A offering on the website, which contains information and disclosures, including the public offering statement. Investors will be able to purchase shares on the open market once the company goes public.
Atlis took the four years since its founding to develop a battery cell and ultra-fast charging platform and delivered the first complete pre-production vehicle built atop that platform, the all-electric XT work pickup truck, last fall.