Mesa-based Atlis, now trading on Nasdaq under the symbol AMV, is developing a commercial work truck and the electric batteries to power it.
Atlis Motor Vehicles is Arizona’s latest public company of note following a robust initial listing on the Nasdaq stock market Sept. 27. Stronginitial investor enthusiasm for the maker of electric pickup trucks resulted in a tripling in the value of Atlis' shares on the first day of trading, followed by a sharp decline later on the second day.
The company becomes the latest publicly owned electric vehicle maker with Arizona roots, following in the footsteps of Phoenix-based Nikola Motor, a manufacturer of zero-emissions heavy commercial trucks that are produced in Coolidge, and Lucid Motors, a California company that is delivering luxury electric sedans from a factory in Casa Grande.
The timing for Atlis' emergence also is favorable, as the recently passed federal Inflation Reduction Act creates incentives for companies that use battery packs built in the U.S.
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