ELMS Provides Key Updates to Suppliers and Partners Ahead of Start of Production
August 05 2021 - 9:00AM
Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”)
(“ELMS” or “the Company”), a pure-play commercial electric vehicle
(“EV”) company focused on redefining productivity for the last
mile, today held an update for more than 40 of its strategic
suppliers and partners to align on launch readiness ahead of the
start of production of the all-electric Urban Delivery van,
scheduled to start at the end of the third quarter this year.
The conference for strategic suppliers and
partners, including Continental, Siemens, CATL, Maersk and others,
was led by ELMS Co-Founder and Chief Executive Officer James
Taylor, Chief Operating Officer Jerry Hu and Vice President of
Engineering Praveen Cherian. Mr. Taylor covered the Company’s
recent listing on Nasdaq as well as the planned logistics, material
flow and production schedule of the Urban Delivery through the
fourth quarter this year. Management also shared more details on
the Company’s engineering progress and production readiness.
“The demand from our customers is there, and
with your continued support we can achieve our production
milestones this year,” Mr. Taylor said during the meeting.
“Together, we have a terrific opportunity to seize a first-mover
advantage, help lead commercial fleets’ transition to electric
and establish America as a global center for EV manufacturing.”
The Urban Delivery, the anticipated first Class
1 commercial EV in the U.S. market, will be produced at the
Company’s 675,000 sq. ft. facility in Mishawaka, Indiana. In
preparation, the Company has already commenced hiring at the
facility in areas spanning production, process engineering,
material management and employee training.
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.
ContactsMedia:
elms-svc@sardverb.comInvestor Relations:
IR@electriclastmile.com
Forward-Looking StatementsThis
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 plan, 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 indicated from time to time in Securities and
Exchange Commission filings by the Company relating to the business
plan and in the Company’s other filings and 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 their
expectations or any change in events, conditions or circumstances
on which any such statement is based.
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