Electric Last Mile Solutions Announces Opening of Urban Mobility Lab in San Francisco to Develop Advanced Technology Solutions for Fleet Customers

Rhea-AI Summary

Electric Last Mile Solutions (ELMS) has launched a new Urban Mobility Lab in San Francisco focusing on electric vehicle fleet solutions. The Lab aims to enhance in-vehicle technology and data applications to boost vehicle productivity and reduce ownership costs. With a strategic location in the Bay Area, ELMS intends to leverage local talent to scale its capabilities for commercial customers. This expansion adds to existing facilities in Michigan, Indiana, and China, supporting the company’s goal to redefine last-mile delivery through clean, zero-emission vehicles.

Positive

• Opening of Urban Mobility Lab in San Francisco to enhance electric vehicle technology.
• Focus on data-driven solutions to increase vehicle productivity and reduce total ownership costs.
• Expansion of operational capabilities with access to Bay Area talent.

Negative

• None.

• New Urban Mobility Lab will specialize in electric vehicle fleet solutions, including advanced in-vehicle technology, edge-to-cloud architecture and data-intensive applications
  
• ELMS location in Bay Area to tap additional hardware and software talent, rapidly scaling capabilities for EV commercial customers
• Company adds to global footprint, with other facilities in Michigan, Indiana and China
  

TROY, Mich., Oct. 13, 2021 (GLOBE NEWSWIRE) -- Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity and sustainability for the last mile, announced the opening of its Urban Mobility Lab in San Francisco – ELMS’ new tech hub for innovative electric vehicle fleet solutions.

The Lab’s focus will be expansive, covering advanced in-vehicle technology, edge-to-cloud architecture, data-intensive applications and machine learning. Advanced technology specialization in these areas will allow ELMS to provide customer solutions that increase vehicle productivity and lower total cost of ownership.

Data will be analyzed from ELMS commercial EVs and their environments, giving the Lab crucial information to understand how to improve efficiencies for ELMS fleets. Employees at the Lab will also work with collaborative partners to understand how best to serve all-electric fleets.

San Francisco was chosen as the location due to its large pool of talent in hardware and software engineering, and it being a home to some of the most innovative companies in the transportation industry.

“The Urban Mobility Lab will have an unrelenting focus on transforming the urban last mile for our customers through clean, zero emissions electric vehicles,” said Jonathan Ballon, Chief Strategy Officer, ELMS. “We see our automotive engineering and manufacturing expertise at our Michigan, Indiana and China facilities coupled with the agile innovation culture and deep technology talent of Silicon Valley as a winning combination.”

About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. (Nasdaq: ELMS) is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance of the business, the size, demands and growth potential of the markets for the Company’s products and the Company’s ability to serve those markets, the Company’s ability to develop innovative products and compete with other companies engaged in the commercial delivery vehicle industry and/or the electric vehicle industry, the Company’s ability to attract and retain customers, the estimated go to market timing and cost for the Company’s products, and the implied valuation of the Company. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (4) the impact of COVID-19 on the Company’s business; (5) any delays the Company may experience in realizing its projected timelines and cost and volume targets for the production, launch and ramp up of production of the Company’s vehicles and the modification of its manufacturing facility; (6) the ability of the Company to obtain customers, obtain product orders, and convert its non-binding pre-orders into binding orders or sales; (7) the Company’s ability to implement its business plans and strategies; and (8) other risks and uncertainties described in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and in the Company’s future filings with the Securities and Exchange Commission. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that the Company considers immaterial or which are unknown. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts
Media: elms-svc@sardverb.com
Investor Relations: IR@electriclastmile.com

FAQ

What is the purpose of the Urban Mobility Lab opened by ELMS?

The Urban Mobility Lab focuses on developing electric vehicle fleet solutions, enhancing in-vehicle technology, and utilizing data applications to improve vehicle productivity.

What are the key technologies being developed at the ELMS Urban Mobility Lab?

The Lab will specialize in advanced in-vehicle technology, edge-to-cloud architecture, data-intensive applications, and machine learning.

How does ELMS plan to utilize its new Urban Mobility Lab?

ELMS plans to use the Lab to analyze data from its electric vehicles to improve fleet efficiencies and reduce costs for commercial customers.

What locations does ELMS operate in besides San Francisco?

In addition to the San Francisco Lab, ELMS has facilities in Michigan, Indiana, and China.

What is the significance of the San Francisco location for ELMS?

San Francisco's location provides access to a large pool of talent in hardware and software engineering, essential for developing innovative transportation solutions.