ATIF’s investment in Mexican electric vehicle company sees rapid growth in product orders due to soaring gas prices
IRVINE, Calif., August 10, 2022 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF, the “Company”, “ATIF” or “We”), a holding company providing business and financial advisory services in Asia and North America, is pleased to announce that the company’s IPO advisory services client and its stake in Solarever Ltd. (“Solarever”), a Mexican solar energy and electric vehicle company, has seen rapid growth in recent electric vehicle orders. Based on the investment agreement between Solarever and the Company, ATIF holds a 5.25% stake in Solarever.
The sharp rise in global crude oil prices this year has led to a subsequent spike in gasoline prices, creating strong consumer interest in electric vehicles. According to the American Automobile Association (“AAA”), the average gasoline price in the United States is $4.07/gallon on August 7, 2022an increase of 27.6% compared to $3.19/gallon over the previous year August 7and regular gas prices in California and Hawaii are finished $5.00/gallon. According to AAA’s latest consumer survey released on July 13, 2022, a quarter of Americans say they are likely to purchase an electric vehicle (powered entirely by electricity, i.e. not hybrid) for their next vehicle purchase, led by millennials (30%) . The common factor among those wanting to buy an electric vehicle is a strong desire to save on fuel costs, with 77% citing this as the main reason for their interest.
Solarever is the leading designer and manufacturer of solar products in Mexico, including photovoltaic (PV) panels, energy storage systems, electric vehicles (EV) and other zero-emission solutions operating in the solar and electric vehicle sectors. Solarever is the first and currently the only national electric vehicle company in Mexico who has obtained an electric vehicle safety certification and an electric vehicle dealer license. Solarever launched its first electric vehicle, the SEV e-Wan in 2022, which has garnered tremendous customer interest and purchase orders in Mexico. The SEV e-Wan starts at $14,500.
Jun LiuPresident, Chairman of the Board and CEO of ATIF, said: “We strongly believe in the growth potential of Solarever, based on our strong vision for the future of the sustainable energy industry. Solarever is one of the major players in the solar photovoltaic industry. and is also active in the electric vehicle industry, which has significant growth potential. According to the International Energy Agency (IEA), manufacturers of electric vehicles have gone through rising prices and breaking supply chains. to sell 6.6 million electric vehicles in 2021, doubling global sales and tripling electric vehicle market share in just two years. From what we understand, Solarever’s recent electric vehicle sales have been brisk and purchase orders are increasing rapidly! At the same time, Solarever’s IPO process is progressing steadily and we are very excited to see the high returns this investment will earn us and our shareholders in its future IPO.”
About ATIF Holdings Limited
ATIF Holdings Limited (“ATIF”) is a Los Angelescomprehensive financial group with wholly owned and operated subsidiaries: ATIF-1 hedge fund firm, ATIF equity investment firm, ATIF IPO advisory firm and integrated financial services network platform www.IPOEX.com. ATIF is dedicated to providing international asset securitization services, as well as equity investment and asset management services to companies around the world. ATIF received the “Top 10 Best Listed Companies 2019” from the “Golden Bauhinia Award”, the highest distinction in that of Hong Kong the financial and securities industry. For more information, please visit https://ir.atifchina.com/.
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