Glovis Chooses ELMS Urban Delivery for Operations, Plans Urban Utility Pilot
Electric Last Mile Solutions (NASDAQ: ELMS; ELMSW) announced an order from Glovis America for its Urban Delivery vehicle. Glovis plans to utilize these electric commercial vehicles for operational efficiency at its ports and facilities, supporting material movement and personnel transport. The Urban Utility, a Class 3 electric vehicle, will also be evaluated for various configurations. ELMS aims to enhance logistics and freight operations for Glovis, reinforcing its commitment to zero-emission industrial solutions within key sectors.
- Partnership with Glovis enhances ELMS's market presence.
- Glovis plans to utilize Urban Delivery for efficient material transport.
- Urban Utility offers customizable configurations for diverse operational needs.
- Dependence on Glovis's operational success could impact ELMS.
- Potential risks associated with volume and cost targets for vehicle production.
- Glovis purchases ELMS Urban Delivery for its industrial campus
- ELMS Class 3 Urban Utility to be piloted by Glovis for multiple use cases
TROY, Mich., Dec. 22, 2021 (GLOBE NEWSWIRE) -- Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pioneer of electric and intelligent mobility solutions for commercial vehicle customers, today announced an order from Glovis America, Inc. (“Glovis”), a global supply chain and logistics provider, for the ELMS Urban Delivery.
Glovis specializes in air, ocean and ground freight logistics, and it plans to use ELMS commercial vehicles to support its industrial operations. The Urban Delivery will be used for materials movement and shuttling personnel on-campus.
Glovis operates at 18 ports across the U.S. and manages ocean transportation for over 800,000 twenty-foot cargo containers, three million cars, trucks, buses, locomotives, heavy machines, and 90 million tons of bulk cargo.
Glovis will also evaluate various configurations of the Urban Utility for operations like unloading cargo ships, transporting personnel and transporting heavy materials at its ports. The Urban Utility is a Class 3 medium duty commercial electric vehicle that has a unique cab-over chassis design, allowing it to be highly configurable. It can be outfitted with a dry box, flat bed, stake bed and other customizable cargo options depending on customer needs.
ELMS sees the municipal sector, which includes ports, city public works, local governments, and national parks, as a major vertical for the Urban Delivery and Urban Utility.
“Glovis’s large port and facilities presence in the U.S. requires an efficient commercial fleet with zero downtime,” said Ron Feldeisen, Chief Revenue Officer, ELMS. “ELMS is ready to help Glovis streamline fleet operations with our versatile, all-electric commercial vehicles and telematics solutions as it moves its logistics and freight operations to an electrified future.”
“It is extremely valuable to partner with ELMS in zero emission industrial operations,” said Scott Cornell, Chief Operations Officer, Glovis. “In addition to the supply of purpose-ready vehicles, ELMS is profoundly engaged in the planning to support Glovis facilities operations.”
About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. (Nasdaq: ELMS; ELMSW) 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 will 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.
About Glovis America, Inc.
Glovis America Inc., the largest provider of finished vehicle logistics in the U.S., also delivers integrated services in transportation, storage, consolidation, distribution, inbound and outbound logistics, equipment leasing and packing services to various industries. For more information, please visit www.glovisusa.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, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including, without limitation, statements regarding the Company’s commercial relationship with Glovis and the expected benefits arising from the relationship. These forward-looking statements generally are identified by 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 involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and you should not rely on these forward-looking statements. 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 and the resulting supply chain disruptions 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 other filings with the Securities and Exchange Commission, including the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of our website at ir.electriclastmile.com. Some of these risks and uncertainties may in the future be amplified by the COVID-19 pandemic and other factors outside of the Company’s control, and there may be additional risks that the Company considers immaterial or which are unknown. 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
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