ELMS Ships First Urban Delivery EVs to Customers
Electric Last Mile Solutions (NASDAQ: ELMS; ELMSW) announced the shipment of its first Urban Delivery EVs from its Mishawaka, Indiana facility, marking it as the first commercial Class 1 EV in the U.S. market. The initial shipment is part of a larger order of 1,000 units to Randy Marion Automotive Group. This milestone solidifies ELMS's first-mover advantage in the commercial EV segment, with plans to ramp up production for growing customer demand. The company aims to redefine last-mile delivery with its sustainable and efficient EV offerings.
- Successfully shipped first Urban Delivery EVs, establishing first-mover status in Class 1 commercial EVs.
- Secured a binding purchase order for 1,000 units from a major commercial dealership.
- None.
- ELMS ships first Urban Delivery EVs from its Mishawaka, Indiana production facility
- Urban Delivery becomes the first commercial Class 1 EV in the U.S. market
TROY, Mich., Sept. 29, 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 for the last mile, today announced that it has shipped its first Urban Delivery units to customers, marking the launch of the first commercial Class 1 EV in the U.S. market.
The Urban Delivery EVs came out of ELMS’ production facility in Mishawaka, Indiana and were shipped to Randy Marion Automotive Group, one of the country’s largest commercial dealerships, as part of a binding purchase order for 1,000 units that was announced last week.
“This launch and delivery marks a key milestone for Electric Last Mile Solutions, our partners, and our shareholders. We are now delivering our transformative and sustainable EV solutions to commercial customers and solidifying our first-mover status in the segment,” said James Taylor, ELMS Co-Founder and CEO. “Supported by a seasoned workforce at a plant that has produced American icons, ELMS has positioned itself at the vanguard of the commercial electrification movement. We now look forward to continuing our momentum and ramping to mass production to meet our customer demand.”
ELMS’ unique, capital-efficient business model enables the Company to quickly bring to market segment-defining commercial EVs along with connected and customized solutions for an array of customers in the last mile delivery and services space.
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 the first Class 1 commercial electric vehicle in the U.S. market. The Company expects to begin production of its second vehicle, the Class 3 Urban Utility EV, in the second half of 2022. ELMS 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/516de6fa-52d5-4806-a614-d77fcdd07672
FAQ
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