Tesla Rival Declares Devastating News

Tesla Rival Declares Devastating News

Electric Last Mile Solutions  (ELMS)  on Dec. 11 2020, announced it was going to list on the Nasdaq through a merger with a special purpose acquisition company.

“The demand for cost effective solutions to support the e-commerce ecosystem is overwhelming,” James Taylor, the commercial electric vehicle maker’s then-CEO, said at the time. “This industry promises rewards to first movers who can deliver value-driven solutions.” 

‘Very Disappointed by This Outcome’

ELMS did go public in late June 2021 and the Troy, Mich., company’s management team rang the opening bell at the Nasdaq on July 12 of that year.

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