By Stephen Nakrosis
Shares of Atlis Motor Vehicles Inc. are among the top performers on the Nasdaq Wednesday, after the company said it secured customer demand for two gigawatt-hours worth of capacity for its electric-vehicle batteries.
At 1:21 p.m. ET, the company's shares had risen 169.03% to $7.12 each. Volume topped 18.5 million shares, above the stock's 65-day average of 229,772 shares.
The Mesa, Ariz., electric-vehicle technology company said the demand for its battery packs has come in the form of non-binding letters of intent, memoranda of understanding, and purchase orders from multiple customers in the automotive, heavy equipment and solar industries.
The customers include automotive OEMs, construction equipment manufacturers and mining companies, Atlis said.
The stock last closed above $7 per share on Dec. 12.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 11, 2023 13:40 ET (18:40 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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