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Electric Last Mile Solutions (Nasdaq: ELMS; ELMSW) appointed Shauna McIntyre as Interim CEO following the resignations of James Taylor and Jason Luo. The change comes after a Board investigation into executive stock transactions. McIntyre brings over 25 years of automotive experience, previously leading teams at Ouster Automotive and Google. The company advised stakeholders of the need to restate previous financials, affecting records from its inception through September 2021. ELMS reported $132.0 to $142.0 million in cash equivalents as of December 31, 2021.
Electric Last Mile Solutions (Nasdaq: ELMS; ELMSW) is showcasing its all-electric commercial vehicles at CES 2022. The highlight is the new Urban Delivery model, which offers 20% more cargo space and a best-in-class payload capacity of 2,100 pounds. ELMS is also promoting the Urban Utility vehicle, set for production in the second half of 2022, targeting a payload of over 5,700 pounds. CEO James Taylor remarked that this event is vital for demonstrating their commitment to electrifying fleets and fulfilling ESG goals.
Electric Last Mile Solutions (Nasdaq: ELMS; ELMSW) is set to exhibit at CES, showcasing its all-electric Urban Delivery and Urban Utility commercial vehicles. The Urban Delivery is the first Class 1 EV in the U.S. with 20% more cargo space and a payload capacity of 2,100 pounds. The Urban Utility is anticipated to start production in H2 2022, targeting a payload over 5,700 pounds and a range of 125 miles. CEO James Taylor and the executive team will be present to discuss technology and capabilities.
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.
Electric Last Mile Solutions (ELMS) has secured a purchase order from Zeeba Vans for 50 all-electric Urban Delivery vans, with plans for larger orders in 2022. Zeeba aims to add 2,500 electric vans by end of 2023 as part of its growth strategy. This partnership highlights the transition towards all-electric fleets in the growing commercial van rental market. Zeeba experienced over 100% business growth in 2021, projecting a threefold increase in 2022, with ELMS playing a key role in this expansion.
Electric Last Mile Solutions (NASDAQ: ELMS; ELMSW) announced that CFO Rob Song will speak at Deutsche Bank's 2021 Industrials Conference on November 17, 2021. The company focuses on electric and intelligent mobility solutions for commercial vehicle customers, aiming to enhance efficiency and profitability. Its first vehicle, the Urban Delivery, is the first Class 1 commercial electric vehicle in the U.S., while production for its second vehicle, the Class 3 Urban Utility EV, is expected in the second half of 2022. Headquartered in Troy, Michigan, ELMS is pioneering cleaner commercial transportation.
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) has appointed Thomas M. Dono, Jr. as Chief Legal Officer and Corporate Secretary. With over 20 years of experience in the automotive and technology sectors, Dono's expertise includes ESG, SEC reporting, and international law. Previously, he held the same position at Stoneridge and served in high-level legal roles at Metaldyne. His leadership is expected to support ELMS in advancing urban mobility solutions, including the upcoming production of their Class 3 Urban Utility EV.
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) announced the successful launch and delivery of the ELMS Urban Delivery, the first Class 1 commercial electric vehicle in the U.S. The company secured a 6,000-unit order commitment and signed long-term agreements for battery and components supply. Despite global supply-chain challenges, ELMS revised its 2021 production target to 300-500 vehicles. The company reported a net loss of $17.8 million for Q3 2021, with a total cash balance of $170.9 million as of September 30, 2021.
ELMS announces the Board's approval for production of the Urban Utility EV, targeting the Class 3 commercial vehicle market in 2022. This vehicle has a max payload of over 5,700 lbs, a gross vehicle weight rating of over 11,000 lbs, and a range of approximately 125 miles. With this launch, ELMS aims to capture a share of the $130 billion North American market for Class 1-3 commercial vehicles, building on the success of its Urban Delivery EV already in production.
Electric Last Mile Solutions (NASDAQ: ELMS; ELMSW) has partnered with EVgo (NASDAQ: EVGO) to create a charging ecosystem for commercial electric vehicle fleets. This partnership aims to deliver EVgo's charging solutions to ELMS' Urban Delivery vehicles, supporting lower total ownership costs. A preferred fleet charging program will facilitate large-scale deployments, including comprehensive services such as transition planning and maintenance. ELMS' Urban Delivery is the first Class 1 commercial electric vehicle in the U.S., with production of its second vehicle set for late 2022.
