Atlis Motor Vehicles Battery Cell Output Increases 15x as Production Ramps to Meet Customer Demand
24 January 2023 - 12:38AM
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 announced a fifteen-fold increase in daily battery cell
output since the start of trial mass production in November 2022,
while continuing to make additional improvements to ensure customer
demand is met.
Following the intended execution plan outlined as part of their
most recent funding in Q4 2022, concerted efforts to scale
production have resulted in the ability to manufacture
significantly more battery cells per week at its Arizona facility.
Atlis has invested in new equipment and technology to increase
automation and efficiency, which the Company says will result in
further increases in production capability in the coming
months.
“I can’t emphasize enough just how important this milestone is
for Atlis. Through team growth, efficiency improvements, and
calculated investments in manufacturing technology, Atlis has gone
from hand-building roughly 30 battery cells per week to
manufacturing hundreds of battery cells weekly,” stated Mark
Hanchett, Atlis Motor Vehicles’ Founder and CEO. “Unlike foreign
owned, tier-one battery manufacturers, Atlis is the only U.S. based
company manufacturing battery cells stateside. We’re keeping pace
with our intended execution plan and committed to meeting
production milestones as we scale manufacturing capabilities in
2023 and work to meet the growing demand for Atlis battery
technology.”
To learn more about Atlis battery cells, please visit
https://www.atlismotorvehicles.com/energy-solutions.
About Atlis Motor Vehicles
Atlis Motor Vehicles is a vertically integrated EV technology
ecosystem company leveraging its intellectual properties and U.S.
manufactured battery innovations to support electric mobility
and energy storage solutions.
The Atlis Ecosystem will consist of superior Battery Cell and
Pack technologies, Grid Level Energy Storage Solutions, Charging
Infrastructure, Platform and Medium-Duty Electric
Mobility Solutions, and Over-Air Cloud Management – all
wrapped in Atlis Motor Vehicles’ seamless subscription-based
models. 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 TroutAtlis Motor
Vehiclesinfo@atlismotorvehicles.com
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