Press "Enter" to skip to content

EV firm Atlis plans U.S. stock market listing amid IPO drought – Reuters

The Nasdaq logo is displayed at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid
May 4 (Reuters) – Atlis Motor Vehicles has become the latest startup in the electric-vehicle space to unveil plans for an initial public offering as the global push towards electrification accelerates.
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 agriculture, utility and construction industries.
The company intends to list on the Nasdaq this summer under the ticker symbol "AMV" and will use the IPO proceeds to scale up operations, it said on Wednesday. Atlis declined to disclose how much it expected to raise through its offering.
While there is strong investor interest in the EV sector due to the success of Tesla Inc (TSLA.O) and concerns over climate change, Atlis' listing plans come at a time when a global market rout has stalled IPO activity in the United States.
Jitters over the Ukraine conflict and aggressive policy tightening by the Federal Reserve have in recent months forced several companies such as file-sharing firm WeTransfer and bitcoin miner Rhodium Enterprise to shelve their listing plans.
However, some heavyweights from the software, technology and automotive sectors – including social media firm Reddit Inc, business software company ServiceTitan and Intel Corp's (INTC.O) self-driving car unit Mobileye – are slated to go public in the coming months.
Our Standards: The Thomson Reuters Trust Principles.
Subscribe to our auto newsletter to get the latest news that are driving the global automotive industry.
Subscribe to our newsletter to get all the news you need to start your day.
Tesla has submitted an application to build on a further 100 hectares east of its plant in Germany, expanding the site's area by a third, local newspaper rbb reported on Thursday, citing the local mayor.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source