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PowerBand and U.S. Electric Truck Maker Atlis Motor Vehicles Sign MOU to Offer Leasing, Purchasing and Insurance Services
ATLIS plans to use DRIVRZ™ platform to finance and insure its EV subscription and ow...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand and U.S. Electric Truck Maker Atlis Motor Vehicles Sign MOU to Offer Leasing, Purchasing and Insurance ServicesATLIS plans to use DRIVRZ™ platform to finance and insure its EV subscription and ownership model for consumersVANCOUVER, BC / ACCESSWIRE / May 19, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (FSE:1ZVA) (\"PowerBand\", \"PBX\" or the \"Company\") has reached a Memorandum of Understanding (\"MOU\") to use its DRIVRZ™ technology to supply leasing, purchasing, and other financial services to emerging electric truck manufacturer and subscription EV provider, Atlis Motor Vehicles Inc. (\"ATLIS\").Both companies intend to work together to develop a bespoke, white-labelled marketplace for ATLIS, allowing buyers of Atlis XT trucks to purchase, lease, and insure their vehicles from any digital devices.In addition to traditional ownership models, Arizona-based ATLIS is also building an all-inclusive subscription model for electric vehicle users. It plans to begin selling its XT electric pickup truck and subscriptions in the United States by 2022. It is currently taking advance reservations for the XT, which offers a 500-mile range battery that recharges in less than 15 minutes.\"Working with ATLIS, which is pioneering the subscription model for EV ownership, is another significant advance in PowerBand's mission to make DRIVRZ the leader in the evolving EV automotive retail sector\" said PowerBand CEO Kelly Jennings.\"We are delighted that we have an opportunity to help ATLIS offer its customers a seamless way to acquire an electric vehicle, as well as insurance products, over the internet. We will tailor our DRIVRZ™ suite of technology solutions to ATLIS's marketplace needs.\"Added Jon Lamb, CEO of DRIVRZ Financial: \"Working with ATLIS is incredibly exciting. We believe that our continued focus on creating a stellar customer experience combined with our continuing focus on growing our presence in the electric vehicle sector will allow us to maintain our momentum we have built in the used vehicle market. Our recently announced $2 Billion in lease lines is key in our plan to dominate this space.Under the agreement, PowerBand, and its finance division DRIVRZ Financial, will work with ATLIS to adapt the DRIVRZ™ platform on a white-label basis. Offering white-label services is part o...