Electric Last Mile Solutions Announces Opening of Urban Mobility Lab in San Francisco to Develop Advanced Technology Solutions for Fleet Customers
13 October 2021 - 10:00PM
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or
“the Company”), a pure-play commercial electric vehicle (“EV”)
company focused on redefining productivity and sustainability for
the last mile, announced the opening of its Urban Mobility Lab in
San Francisco – ELMS’ new tech hub for innovative electric vehicle
fleet solutions.
The Lab’s focus will be expansive, covering
advanced in-vehicle technology, edge-to-cloud architecture,
data-intensive applications and machine learning. Advanced
technology specialization in these areas will allow ELMS to provide
customer solutions that increase vehicle productivity and lower
total cost of ownership.
Data will be analyzed from ELMS commercial EVs
and their environments, giving the Lab crucial information to
understand how to improve efficiencies for ELMS fleets. Employees
at the Lab will also work with collaborative partners to understand
how best to serve all-electric fleets.
San Francisco was chosen as the location due to
its large pool of talent in hardware and software engineering, and
it being a home to some of the most innovative companies in the
transportation industry.
“The Urban Mobility Lab will have an unrelenting
focus on transforming the urban last mile for our customers through
clean, zero emissions electric vehicles,” said Jonathan Ballon,
Chief Strategy Officer, ELMS. “We see our automotive engineering
and manufacturing expertise at our Michigan, Indiana and China
facilities coupled with the agile innovation culture and deep
technology talent of Silicon Valley as a winning combination.”
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.
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 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.
ContactsMedia:
elms-svc@sardverb.com Investor Relations:
IR@electriclastmile.com
Electric Last Mile Solut... (NASDAQ:ELMSW)
Historical Stock Chart
From May 2024 to Jun 2024
Electric Last Mile Solut... (NASDAQ:ELMSW)
Historical Stock Chart
From Jun 2023 to Jun 2024