Electric truck maker Atlis crowdfunds $2M in 24 hours

Atlis Motor Vehicles closed in on a $5 million regulation CF crowdfunding target after launching in early September and securing $2 million within 24 hours. The Arizona-based company says it had already attracted over $16 million in previous crowdfunding toward developing its own electric vehicle battery cells and packs to power 300-, 400-, or 500-mile range versions of the Atlis XP vehicle platform and XT pickup truck, to debut in 2022.

Atlis also plans to commercially launch its next-generation AMV battery cell in Q4 2021.

The company says it is focused on three business units: Energy, XP platform and XT pickup truck.

The energy pillar includes battery production and the ecosystem necessary to recharge, while the XP platform is the base for the XT truck, and enables ATLIS to produce other vehicle configurations, such as emergency vehicles, delivery vans or box trucks.

BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).