EV start up Electric Last Mile Solutions to declare bankruptcy

#latestnews #electriclastmilesolutionsdeclaredbankrupt #ELMSdeclaredbankrupt #automobilenews

The ELMS Urban Delivery, anticipated to launch later this yr, is anticipated to be the primary Class 1 industrial electrical car out there within the U.S. market and can be produced at the Company's facility in Mishawaka, Indiana.

Electric Last Mile Solutions

EV start-up Electric Last Mile Solutions mentioned late Sunday it plans to file for bankruptcy lower than a year after it went public through a merger with a particular goal acquisition firm.

The Michigan-based maker of electrical industrial vans mentioned in a launch that interim CEO Shauna McIntyre and its board of administrators selected Sunday to file for Chapter 7 bankruptcy safety, which is able to permit it to liquidate its property, after a "comprehensive review of the company's products and commercialization plans" turned up no higher choice for stakeholders.

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