Electric Last Mile Solutions Inc (ELMSQ)

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$ELMS NEWS!!!!!!! Electric Last Mile Solutions Announces Long-Term Supply Agreement with Wuling Motors

https://www.otcmarkets.com/stock/ELMS/news/story?e&id=1940830

Electric Last Mile Solutions Announces Long-Term Supply Agreement with Wuling Motors

Binding agreement with prominent manufacturer expands supply base and provides access to market-proven electric vehicle (EV) component systems and parts for the ELMS Urban Delivery all-electric cargo van.
Segment-defining ELMS Urban Delivery anticipated to be the first Class 1 Commercial EV in the U.S. with production scheduled for later this year.
Urban Delivery expected to enter the U.S. market at a starting price of approximately $25,000, after incentives.
TROY, Mich., July 12, 2021 (GLOBE NEWSWIRE) -- Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) (“ELMS” or “the Company”), a designer of intelligent, e-mobility workstations for the last mile, today announced that it has signed a binding, long-term supply agreement with Liuzhou Wuling Automobile Industry Co., Ltd. (HKSE: 305) (“Wuling Motors”), a supplier of automotive components and one of China’s leading automotive manufacturers of electric cargo vans and light duty specialty vehicles.

Under the agreement with Wuling Motors, ELMS will have long-term access to EV component systems and parts from Wuling Motors’ commercial EV cargo van platform for the manufacture of the ELMS all-electric Urban Delivery vehicle.

“At ELMS, we are reimagining the design of commercial vehicles as efficient, intelligent and profit-driving e-mobility workstations for our customers,” said ELMS Co-Founder and CEO, James Taylor. “We are delighted to be collaborating with a company of Wuling Motors’ caliber to broaden our long-term, strategic supply base. We believe that this partnership, as a part of our solutions ecosystem model and supplemental to our core vehicle integration and engineering capabilities, will enable us to quickly bring to market, segment-defining and U.S.-made EVs customized to our customers’ individual needs and optimized for the qualities that matter most to them: efficiency, reliability and total cost of ownership.”

The agreement with Wuling Motors adds to the Company’s existing and developing strategic partnerships with other industry-leading suppliers and service providers, including CATL for battery packs, Geotab for advanced telematics, Cox Automotive for comprehensive service coverage and Randy Marion Automotive Group for distribution.

The ELMS Urban Delivery, anticipated to launch later this year, is expected to be the first Class 1 commercial EV available in the U.S. market and will be produced at the Company’s plant in Mishawaka, Indiana. The Urban Delivery is anticipated to have a range of approximately 150 miles and is also expected to come with a suite of connectivity and productivity solutions, including over-the-air updates.

About Electric Last Mile, Inc.
ELMS (NASDAQ: ELMS) is focused on redefining the last mile with efficient, connected and customizable solutions. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. ELMS is now listed on NASDAQ following the completion of its merger with Forum Merger III Corporation, providing it with sufficient capital to execute its business plan. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com or Twitter @ELMSolutions.

About Liuzhou Wuling Automobile Industry Co., Ltd.
Liuzhou Wuling Automobile Industry Co., Ltd. (Wuling Industry Co., Ltd. for short) was established in 2007 by Guangxi Automobile Group Co., Ltd. (formerly Liuzhou Wuling Automobile Co., Ltd.), integrating the company’s auto parts, engine, and special-purpose vehicle businesses with a Hong Kong listed joint venture company, Wuling Automobile Group Holdings Co., Ltd. (HK.00305), with total assets of 13.18 billion yuan and operating income of 18.48 billion yuan in 2019. With a history of more than 30 years of automotive manufacturing, Wuling focuses on providing customers with high-value products, from parts to cargo van and light duty vehicles.

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