Atlis is developing an electric truck that it says can match the towing and payload capabilities of diesel-powered vehicles and will be optimal for use in the agricultural, utility and construction industries.
see photosAtlis declined to disclose how much it wants to raise through its offering.
Atlis Motor Vehicles has become the latest startup in the electric-vehicle space to have unveiled plans for an initial public offering as the global push towards electrification takes place. The Mesa, Arizona-based company is developing an electric truck that it says can match the towing and payload capabilities of diesel-powered vehicles and will be optimal for use in the agricultural, utility and construction industries.
The company intends to list on Nasdaq under the ticker symbol “AMV” this summer and will use the IPO proceeds to scale up operations, it said Wednesday. Atlis declined to disclose how much it wants to raise through its offering.
While Tesla Inc.’s success and climate change concerns have fueled strong investor interest in the EV sector, Atlis’ listing plan comes at a time when a global market slump has halted IPO activity in the United States.
Panic over the Ukraine conflict and the Federal Reserve’s aggressive policy in recent months have forced several companies such as file-sharing firm WeTransfer and bitcoin miner Rhodium Enterprise to postpone their listing plans.
However, some giants in the software, technology and automotive sectors — including social media firm Reddit Inc., business software company ServiceTitan and Intel Corp’s self-driving car unit Mobileye — are expected to go public in the coming months.
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